Metagenomi, Inc. (NASDAQ:MGX – Get Free Report) has received a consensus rating of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $6.3333.
Several research analysts have recently commented on the company. Weiss Ratings raised Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Chardan Capital began coverage on shares of Metagenomi in a research note on Tuesday, July 7th. They set a “buy” rating and a $5.00 price target on the stock. 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. Finally, Wall Street Zen upgraded Metagenomi from a “strong sell” rating to a “sell” rating in a report on Monday, July 20th.
Read Our Latest Stock Report on MGX
Metagenomi Price Performance
Metagenomi (NASDAQ:MGX – Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.18). Metagenomi had a negative return on equity of 63.65% and a negative net margin of 384.61%.The business had revenue of ($0.26) million during the quarter, compared to analysts’ expectations of $3.01 million. Equities analysts expect that Metagenomi will post -2.42 EPS for the current fiscal year.
Hedge Funds Weigh In On Metagenomi
A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of 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 purchasing an additional 14,389 shares during the period. Bank of America Corp DE increased its holdings in Metagenomi by 508.5% during the 3rd quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock valued at $44,000 after purchasing an additional 15,682 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Metagenomi during the 3rd quarter valued at approximately $64,000. Panagora Asset Management Inc. bought a new position in Metagenomi during the 4th quarter valued at approximately $53,000. Finally, Quadrature Capital Ltd purchased a new stake in Metagenomi in the 4th quarter worth approximately $55,000.
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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