Metagenomi, Inc. $MGX Shares Bought by Peapod Lane Capital LLC

Peapod Lane Capital LLC grew its stake in shares of Metagenomi, Inc. (NASDAQ:MGX) by 44.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,109 shares of the company’s stock after acquiring an additional 155,652 shares during the period. Peapod Lane Capital LLC owned about 1.36% of Metagenomi worth $752,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MGX. AQR Capital Management LLC acquired a new position in Metagenomi during the 1st quarter worth $119,000. Nuveen LLC acquired a new position in shares of Metagenomi in the 1st quarter valued at about $86,000. Virtu Financial LLC acquired a new position in shares of Metagenomi in the 1st quarter valued at about $43,000. Bank of America Corp DE boosted its holdings in shares of Metagenomi by 482.9% in the 4th quarter. Bank of America Corp DE now owns 21,113 shares of the company’s stock valued at $76,000 after buying an additional 17,491 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Metagenomi by 39.6% in the 1st quarter. Bank of New York Mellon Corp now owns 50,387 shares of the company’s stock valued at $69,000 after buying an additional 14,296 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MGX shares. Wells Fargo & Company decreased their price target on shares of Metagenomi from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Metagenomi in a report on Tuesday, August 19th. Chardan Capital decreased their price target on shares of Metagenomi from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 15th. Zacks Research raised shares of Metagenomi from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Finally, Wall Street Zen raised shares of Metagenomi from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Metagenomi Stock Up 4.0%

Metagenomi stock opened at $2.89 on Friday. The firm has a 50-day moving average price of $2.30 and a two-hundred day moving average price of $1.95. The firm has a market capitalization of $108.46 million, a price-to-earnings ratio of -1.22 and a beta of 0.27. Metagenomi, Inc. has a 52-week low of $1.23 and a 52-week high of $4.92.

Metagenomi (NASDAQ:MGX) last posted its earnings results on Tuesday, August 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. The firm had revenue of $8.51 million during the quarter, compared to analyst estimates of $7.72 million. Metagenomi had a negative net margin of 257.99% and a negative return on equity of 37.84%. Research analysts expect that Metagenomi, Inc. will post -2.46 earnings per share for the current year.

Metagenomi Company Profile

Metagenomi, Inc, a genetic medicines company, develops therapeutics for patients using metagenomics-derived genome editing toolbox in the United States. The company's genome editing toolbox includes programmable nucleases, base editors, and RNA and DNA-mediated integration systems, such as prime editing systems and clustered regularly interspaced short palindromic repeat-associated transposases.