Metagenomi (NASDAQ:MGX – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.
A number of other research analysts also recently weighed in on the stock. Weiss Ratings upgraded shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Chardan Capital started coverage on shares of Metagenomi in a report on Tuesday, July 7th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Metagenomi to $7.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Metagenomi presently has an average rating of “Moderate Buy” and a consensus target price of $6.00.
Check Out Our Latest Stock Report on MGX
Metagenomi Stock Performance
Metagenomi (NASDAQ:MGX – Get Free Report) last issued its quarterly earnings data 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). The business had revenue of ($0.26) million for the quarter, compared to the consensus estimate of $3.01 million. Metagenomi had a negative net margin of 384.61% and a negative return on equity of 63.65%. As a group, sell-side analysts forecast that Metagenomi will post -2.5 earnings per share for the current fiscal year.
Institutional Trading of Metagenomi
Several large investors have recently modified their holdings of MGX. BNP Paribas Financial Markets grew its stake in Metagenomi by 1,840.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock valued at $36,000 after buying an additional 14,389 shares during the last quarter. Bank of America Corp DE raised its holdings in Metagenomi by 508.5% in the 3rd quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock worth $44,000 after acquiring an additional 15,682 shares during the period. Panagora Asset Management Inc. acquired a new position in Metagenomi during the 4th quarter worth $53,000. Quadrature Capital Ltd acquired a new position in Metagenomi during the 4th quarter worth $55,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Metagenomi during the 3rd quarter worth $64,000.
About Metagenomi
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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