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

Shares of Metagenomi, Inc. (NASDAQ:MGX) have received an average recommendation of “Moderate Buy” from the five analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $7.00.

A number of equities analysts have weighed in on MGX shares. Wells Fargo & Company reduced their price objective on Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Wall Street Zen raised Metagenomi from a “strong sell” rating to a “sell” rating in a report on Monday, July 20th. Chardan Capital started coverage on Metagenomi in a research report on Tuesday, July 7th. They set a “buy” rating and a $5.00 price target for the company. Finally, Weiss Ratings downgraded Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 23rd.

Hedge Funds Weigh In On Metagenomi

Several institutional investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in Metagenomi during the second quarter worth $222,000. Wells Fargo & Company MN increased its holdings in Metagenomi by 16.1% in the fourth quarter. Wells Fargo & Company MN now owns 118,410 shares of the company’s stock valued at $192,000 after buying an additional 16,402 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Metagenomi by 4,155.7% in the third quarter. JPMorgan Chase & Co. now owns 62,559 shares of the company’s stock worth $148,000 after acquiring an additional 61,089 shares during the period. Man Group plc acquired a new position in shares of Metagenomi in the third quarter worth about $125,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Metagenomi during the 1st quarter worth about $119,000.

Metagenomi Price Performance

NASDAQ:MGX opened at $1.21 on Thursday. The company’s fifty day moving average price is $1.26 and its 200-day moving average price is $1.40. Metagenomi has a 1-year low of $1.13 and a 1-year high of $3.95. The firm has a market capitalization of $45.56 million, a P/E ratio of -0.53 and a beta of 0.69.

Metagenomi (NASDAQ:MGX) last posted its earnings results 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). Metagenomi had a negative net margin of 384.61% and a negative return on equity of 51.23%. The business had revenue of $1.25 million for the quarter, compared to analyst estimates of $5.90 million. Equities analysts anticipate that Metagenomi will post -2.17 EPS for the current fiscal year.

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.