Laurence Reid Purchases 20,000 Shares of Metagenomi (NASDAQ:MGX) Stock

Metagenomi, Inc. (NASDAQ:MGX) Director Laurence Reid purchased 20,000 shares of Metagenomi stock in a transaction on Wednesday, September 9th. The shares were acquired at an average cost of $1.17 per share, for a total transaction of $23,400.00. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at $23,400. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Metagenomi Price Performance

Metagenomi stock opened at $1.16 on Friday. Metagenomi, Inc. has a 52-week low of $1.13 and a 52-week high of $3.95. The firm has a fifty day moving average of $1.22 and a 200-day moving average of $1.32. The firm has a market capitalization of $43.82 million, a P/E ratio of -0.47 and a beta of 0.67.

Metagenomi (NASDAQ:MGX) last issued its earnings results on Monday, August 10th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of ($0.26) million during the quarter, compared to analysts’ expectations of $3.01 million. On average, research analysts expect that Metagenomi, Inc. will post -2.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Metagenomi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGX. Wells Fargo & Company MN increased its position 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 acquiring an additional 16,402 shares during the last quarter. Man Group plc acquired a new position in shares of Metagenomi in the third quarter worth about $125,000. Dynamic Technology Lab Private Ltd purchased a new position in Metagenomi in the third quarter valued at about $64,000. JPMorgan Chase & Co. boosted its holdings in Metagenomi by 4,155.7% in the third quarter. JPMorgan Chase & Co. now owns 62,559 shares of the company’s stock valued at $148,000 after purchasing an additional 61,089 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Metagenomi during the 2nd quarter valued at approximately $222,000.

Analyst Ratings Changes

A number of research analysts have commented on MGX shares. Weiss Ratings upgraded Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Wells Fargo & Company lowered their target price on Metagenomi to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Wall Street Zen lowered Metagenomi from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Finally, 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 on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.00.

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.