Shares of Metagenomi, Inc. (NASDAQ:MGX – Get Free Report) have earned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $7.00.
Several equities analysts have recently weighed in on MGX shares. Wall Street Zen upgraded Metagenomi from a “strong sell” rating to a “sell” rating in a report on Monday. Chardan Capital initiated coverage on Metagenomi in a report on Tuesday, July 7th. They set a “buy” rating and a $5.00 target price on the stock. Wells Fargo & Company reduced their price target on Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Finally, Weiss Ratings upgraded Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th.
Get Our Latest Stock Report on MGX
Metagenomi Stock Up 1.6%
Metagenomi (NASDAQ:MGX – Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.61) earnings per share 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 during the quarter, compared to the consensus estimate of $5.90 million. As a group, sell-side analysts expect that Metagenomi will post -2.17 EPS for the current year.
Hedge Funds Weigh In On Metagenomi
Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in Metagenomi by 1,840.0% during the third quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock worth $36,000 after buying an additional 14,389 shares during the last quarter. Bank of America Corp DE lifted its stake in Metagenomi by 508.5% in the third quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock valued at $44,000 after acquiring an additional 15,682 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Metagenomi in the 4th quarter valued at about $53,000. Quadrature Capital Ltd bought a new position in shares of Metagenomi in the 4th quarter valued at about $55,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Metagenomi during the 3rd quarter worth about $64,000.
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.
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