Laurence Reid Acquires 20,000 Shares of Metagenomi (NASDAQ:MGX) Stock

Metagenomi, Inc. (NASDAQ:MGX) Director Laurence Reid purchased 20,000 shares of the stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average price of $1.17 per share, with a total value of $23,400.00. Following the transaction, the director owned 20,000 shares in the company, valued at $23,400. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Metagenomi Price Performance

NASDAQ MGX remained flat at $1.16 during trading hours on Friday. 53,987 shares of the company traded hands, compared to its average volume of 158,543. The stock has a fifty day moving average of $1.22 and a two-hundred day moving average of $1.32. Metagenomi, Inc. has a fifty-two week low of $1.13 and a fifty-two week high of $3.95.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.18). Metagenomi had a negative net margin of 384.61% and a negative return on equity of 63.65%. The business had revenue of ($0.26) million during the quarter, compared to the consensus estimate of $3.01 million. Sell-side analysts expect that Metagenomi, Inc. will post -2.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Metagenomi

Several institutional investors and hedge funds have recently made changes to their positions in MGX. Renaissance Technologies LLC lifted its holdings in Metagenomi by 25.4% during the first quarter. Renaissance Technologies LLC now owns 787,900 shares of the company’s stock worth $1,056,000 after acquiring an additional 159,500 shares in the last quarter. Jane Street Group LLC grew its stake in Metagenomi by 341.6% in the fourth quarter. Jane Street Group LLC now owns 433,859 shares of the company’s stock valued at $703,000 after acquiring an additional 335,604 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Metagenomi by 102.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 395,800 shares of the company’s stock worth $641,000 after acquiring an additional 200,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Metagenomi by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 305,908 shares of the company’s stock worth $496,000 after acquiring an additional 14,018 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Metagenomi during the second quarter worth about $373,000.

Wall Street Analyst Weigh In

MGX has been the subject of a number of analyst reports. Chardan Capital initiated coverage on Metagenomi in a research note on Tuesday, July 7th. They set a “buy” rating and a $5.00 price objective for the company. Wall Street Zen lowered Metagenomi from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Weiss Ratings upgraded Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Finally, Wells Fargo & Company decreased their target price on Metagenomi to $7.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. One equities research 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 company’s stock. Based on data from MarketBeat, Metagenomi currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

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.