Metagenomi (NASDAQ:MGX) Cut to “Strong Sell” at Wall Street Zen

Metagenomi (NASDAQ:MGX) was downgraded by 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 equities research analysts have also recently commented on the stock. Weiss Ratings raised shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Finally, Chardan Capital started coverage on shares of Metagenomi in a report on Tuesday, July 7th. They set a “buy” rating and a $5.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Metagenomi Stock Up 0.8%

Shares of MGX stock traded up $0.01 on Friday, hitting $1.27. The company had a trading volume of 349,208 shares, compared to its average volume of 158,276. The firm has a market cap of $47.82 million, a P/E ratio of -0.55 and a beta of 0.69. The company has a 50-day moving average price of $1.29 and a 200-day moving average price of $1.45. Metagenomi has a twelve month low of $1.13 and a twelve month high of $3.95.

Metagenomi (NASDAQ:MGX) last posted its earnings results on Monday, May 11th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.01). The company had revenue of $1.25 million for the quarter, compared to analyst estimates of $5.90 million. Metagenomi had a negative return on equity of 51.23% and a negative net margin of 384.61%. Equities research analysts expect that Metagenomi will post -2.13 EPS for the current year.

Institutional Investors Weigh In On Metagenomi

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in Metagenomi by 1,840.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock valued at $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. Dynamic Technology Lab Private Ltd purchased a new position in Metagenomi during the third quarter valued at $64,000. Panagora Asset Management Inc. acquired a new stake in shares of Metagenomi in the fourth quarter valued at about $53,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Metagenomi during the fourth quarter worth about $55,000.

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.