Metagenomi, Inc. (NASDAQ:MGX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Metagenomi, Inc. (NASDAQ:MGX) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment 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 twelve-month target price among analysts that have updated their coverage on the stock in the last year is $9.00.

Several research analysts have recently issued reports on the company. Weiss Ratings lowered Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 19th. Wall Street Zen raised Metagenomi from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Wells Fargo & Company dropped their price objective on Metagenomi from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th.

Metagenomi Stock Up 1.5%

NASDAQ:MGX opened at $1.33 on Wednesday. Metagenomi has a 12-month low of $1.24 and a 12-month high of $3.95. The firm has a market capitalization of $50.07 million, a P/E ratio of -0.58 and a beta of 0.64. The stock’s fifty day simple moving average is $1.38 and its 200-day simple moving average is $1.54.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.01). Metagenomi had a negative return on equity of 51.23% and a negative net margin of 384.61%.The company had revenue of $1.25 million during the quarter, compared to the consensus estimate of $5.90 million. As a group, equities research analysts expect that Metagenomi will post -2.13 earnings per share for the current year.

Hedge Funds Weigh In On Metagenomi

Several institutional investors have recently modified their holdings of MGX. BNP Paribas Financial Markets lifted its holdings in shares of Metagenomi by 1,840.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock valued at $36,000 after purchasing an additional 14,389 shares in the last quarter. Bank of America Corp DE raised 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 worth $44,000 after buying an additional 15,682 shares during the period. Panagora Asset Management Inc. acquired a new stake in Metagenomi during the 4th quarter worth approximately $53,000. Quadrature Capital Ltd acquired a new stake in Metagenomi during the 4th quarter worth approximately $55,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Metagenomi during the 3rd quarter worth approximately $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.