Metagenomi (NASDAQ:MGX) Lowered to Strong Sell Rating by Wall Street Zen

Metagenomi (NASDAQ:MGX) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Sunday.

A number of other analysts have also issued reports on MGX. Wells Fargo & Company lowered their price target on Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Weiss Ratings raised Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Finally, Chardan Capital started coverage on Metagenomi in a report on Tuesday, July 7th. They issued a “buy” rating and a $5.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Metagenomi Trading Up 0.8%

Shares of NASDAQ MGX traded up $0.01 during midday trading on Friday, hitting $1.27. The company’s stock had a trading volume of 349,208 shares, compared to its average volume of 158,276. The business’s 50 day moving average is $1.29 and its two-hundred day moving average is $1.45. Metagenomi has a 12-month low of $1.13 and a 12-month high of $3.95. The firm has a market cap of $47.82 million, a P/E ratio of -0.55 and a beta of 0.69.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.01). The business had revenue of $1.25 million for the quarter, compared to analysts’ expectations of $5.90 million. Metagenomi had a negative net margin of 384.61% and a negative return on equity of 51.23%. On average, analysts predict that Metagenomi will post -2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Metagenomi

A number of large investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in shares of Metagenomi in the fourth quarter valued at about $55,000. Wells Fargo & Company MN lifted its holdings in shares of Metagenomi by 16.1% during the fourth quarter. Wells Fargo & Company MN now owns 118,410 shares of the company’s stock worth $192,000 after purchasing an additional 16,402 shares during the period. Man Group plc purchased a new stake in Metagenomi in the third quarter valued at approximately $125,000. Dynamic Technology Lab Private Ltd acquired a new position in Metagenomi in the 3rd quarter worth approximately $64,000. Finally, JPMorgan Chase & Co. increased its holdings in Metagenomi by 4,155.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,559 shares of the company’s stock worth $148,000 after buying an additional 61,089 shares during the period.

Metagenomi Company Profile

Metagenomi, Inc (NASDAQ: MGX) is a biotechnology company that specializes in the discovery and engineering of novel proteins and enzymes using metagenomics and CRISPR-based genome editing. The company’s proprietary platform integrates vast environmental DNA libraries with advanced machine learning and high-throughput screening to identify, optimize and commercialize enzymes for industrial, agricultural and pharmaceutical applications. By tapping into genetic diversity found in nature, Metagenomi aims to accelerate the development of tailored biocatalysts that improve process efficiency, reduce costs and support sustainability initiatives.

Metagenomi’s technology offerings include custom enzyme discovery services, protein engineering tools and licensing of optimized biocatalysts to partners across multiple sectors.