Metagenomi, Inc. (NASDAQ:MGX) Forecasted to Post Q1 2024 Earnings of ($1.20) Per Share

Metagenomi, Inc. (NASDAQ:MGX) – Equities researchers at HC Wainwright issued their Q1 2024 earnings estimates for Metagenomi in a report released on Tuesday, May 7th. HC Wainwright analyst M. Kapoor expects that the company will earn ($1.20) per share for the quarter. HC Wainwright has a “Buy” rating and a $10.00 price objective on the stock. The consensus estimate for Metagenomi’s current full-year earnings is ($2.89) per share. HC Wainwright also issued estimates for Metagenomi’s Q2 2024 earnings at ($0.60) EPS, Q3 2024 earnings at ($0.65) EPS, Q4 2024 earnings at ($0.68) EPS, FY2024 earnings at ($2.89) EPS, Q1 2025 earnings at ($0.67) EPS, Q2 2025 earnings at ($0.68) EPS, Q3 2025 earnings at ($0.70) EPS, Q4 2025 earnings at ($0.72) EPS and FY2025 earnings at ($2.77) EPS.

MGX has been the topic of several other reports. Wells Fargo & Company initiated coverage on Metagenomi in a research report on Tuesday, March 5th. They issued an “overweight” rating and a $25.00 target price on the stock. TD Cowen began coverage on Metagenomi in a report on Tuesday, March 5th. They set an “outperform” rating for the company. Chardan Capital reaffirmed a “buy” rating and set a $21.00 target price on shares of Metagenomi in a research report on Thursday, March 28th. Jefferies Financial Group assumed coverage on Metagenomi in a research report on Tuesday, March 5th. They set a “buy” rating and a $23.00 target price on the stock. Finally, BMO Capital Markets started coverage on shares of Metagenomi in a report on Tuesday, March 5th. They set an “outperform” rating and a $22.00 target price for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Metagenomi presently has a consensus rating of “Moderate Buy” and an average target price of $17.83.

Metagenomi Stock Up 1.3 %

MGX opened at $6.89 on Thursday. The business has a fifty day moving average price of $9.46. Metagenomi has a 12-month low of $5.50 and a 12-month high of $12.74.

Insider Activity at Metagenomi

In related news, major shareholder Holdings A/S Novo purchased 800,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average price of $15.00 per share, with a total value of $12,000,000.00. Following the purchase, the insider now directly owns 1,739,175 shares in the company, valued at $26,087,625. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.