Metagenomi (NASDAQ:MGX) Price Target Cut to $11.00 by Analysts at Chardan Capital

Metagenomi (NASDAQ:MGX) had its target price reduced by Chardan Capital from $12.00 to $11.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on MGX. Wells Fargo & Company cut their price objective on Metagenomi from $16.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday. Wall Street Zen lowered Metagenomi from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd.

Metagenomi Stock Down 2.1%

Shares of Metagenomi stock opened at $1.86 on Friday. Metagenomi has a twelve month low of $1.23 and a twelve month high of $4.92. The business has a 50-day moving average price of $1.89 and a 200 day moving average price of $1.86. The firm has a market cap of $69.81 million, a PE ratio of -0.79 and a beta of -0.12.

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

Institutional Investors Weigh In On Metagenomi

Several large investors have recently bought and sold shares of the company. Pura Vida Investments LLC grew its position in shares of Metagenomi by 260.1% in the second quarter. Pura Vida Investments LLC now owns 952,134 shares of the company’s stock valued at $1,409,000 after purchasing an additional 687,743 shares in the last quarter. Norges Bank purchased a new stake in shares of Metagenomi in the second quarter valued at approximately $373,000. Geode Capital Management LLC grew its position in shares of Metagenomi by 73.8% in the fourth quarter. Geode Capital Management LLC now owns 587,421 shares of the company’s stock valued at $2,121,000 after purchasing an additional 249,390 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Metagenomi in the second quarter valued at approximately $235,000. Finally, Peapod Lane Capital LLC grew its position in shares of Metagenomi by 44.2% in the second quarter. Peapod Lane Capital LLC now owns 508,109 shares of the company’s stock valued at $752,000 after purchasing an additional 155,652 shares in the last quarter.

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.