Metagenomi (NASDAQ:MGX) Announces Earnings Results, Misses Expectations By $0.01 EPS

Metagenomi (NASDAQ:MGX) issued its quarterly earnings results on Monday. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.01), FiscalAI reports. The business had revenue of $1.25 million for the quarter, compared to analyst estimates of $5.90 million. Metagenomi had a negative return on equity of 48.35% and a negative net margin of 384.61%.

Metagenomi Trading Up 0.4%

Shares of MGX traded up $0.01 during trading hours on Wednesday, reaching $1.36. The company had a trading volume of 129,462 shares, compared to its average volume of 229,503. The firm has a 50 day simple moving average of $1.44 and a 200-day simple moving average of $1.65. The company has a market capitalization of $51.02 million, a price-to-earnings ratio of -0.59 and a beta of 0.63. Metagenomi has a 12-month low of $1.25 and a 12-month high of $3.95.

Hedge Funds Weigh In On Metagenomi

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of Metagenomi by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 305,908 shares of the company’s stock valued at $496,000 after purchasing an additional 14,018 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of 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 purchasing an additional 14,389 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Metagenomi by 508.5% in 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 in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Metagenomi by 16.1% in the 4th quarter. Wells Fargo & Company MN now owns 118,410 shares of the company’s stock valued at $192,000 after purchasing an additional 16,402 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Metagenomi in the 3rd quarter valued at about $64,000.

Analysts Set New Price Targets

Several research firms have recently commented on MGX. Wells Fargo & Company reduced their target price on shares of Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday. Weiss Ratings upgraded shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut shares of Metagenomi from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.00.

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.