Metagenomi, Inc. (NASDAQ:MGX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Metagenomi, Inc. (NASDAQ:MGX) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $6.3333.

A number of brokerages recently issued reports on MGX. Wells Fargo & Company dropped their price target on shares of Metagenomi to $7.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Chardan Capital started coverage on shares of Metagenomi in a research note on Tuesday, July 7th. They set a “buy” rating and a $5.00 price objective for the company. Weiss Ratings raised shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Finally, Wall Street Zen upgraded shares of Metagenomi from a “strong sell” rating to a “sell” rating in a research note on Monday, July 20th.

Metagenomi Price Performance

Shares of NASDAQ MGX opened at $1.23 on Monday. Metagenomi has a 1 year low of $1.13 and a 1 year high of $3.95. The stock has a market capitalization of $46.47 million, a P/E ratio of -0.49 and a beta of 0.66. The company’s 50-day moving average is $1.23 and its 200 day moving average is $1.36.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.18). Metagenomi had a negative net margin of 384.61% and a negative return on equity of 63.65%. The firm had revenue of ($0.26) million for the quarter, compared to analysts’ expectations of $3.01 million. Research analysts anticipate that Metagenomi will post -2.42 earnings per share for the current year.

Institutional Investors Weigh In On Metagenomi

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in Metagenomi by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 305,908 shares of the company’s stock worth $496,000 after acquiring an additional 14,018 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Metagenomi by 1,840.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock worth $36,000 after acquiring an additional 14,389 shares during the period. Bank of America Corp DE lifted its holdings in Metagenomi by 508.5% during the third quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock valued at $44,000 after purchasing an additional 15,682 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Metagenomi by 16.1% during the fourth quarter. Wells Fargo & Company MN now owns 118,410 shares of the company’s stock valued at $192,000 after purchasing an additional 16,402 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Metagenomi in the third quarter worth approximately $64,000.

About Metagenomi

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.