Metagenomi (NASDAQ:MGX) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Metagenomi (NASDAQ:MGX) from a strong sell rating to a sell rating in a research note published on Monday.

A number of other brokerages have also recently commented on MGX. Wells Fargo & Company dropped their price target on shares of Metagenomi from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings upgraded shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Finally, Chardan Capital initiated coverage on shares of Metagenomi in a report on Tuesday, July 7th. They set a “buy” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Metagenomi has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Metagenomi Stock Performance

Shares of Metagenomi stock opened at $1.22 on Monday. Metagenomi has a 52-week low of $1.13 and a 52-week high of $3.95. The stock’s 50-day simple moving average is $1.27 and its 200 day simple moving average is $1.43. The stock has a market capitalization of $45.93 million, a P/E ratio of -0.53 and a beta of 0.69.

Metagenomi (NASDAQ:MGX) last issued its earnings results on Monday, May 11th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.01). The business had revenue of $1.25 million for the quarter, compared to the consensus estimate of $5.90 million. Metagenomi had a negative return on equity of 51.23% and a negative net margin of 384.61%. Equities research analysts forecast that Metagenomi will post -2.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Metagenomi

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Metagenomi by 482.9% in the fourth quarter. Bank of America Corp DE now owns 21,113 shares of the company’s stock valued at $76,000 after acquiring an additional 17,491 shares during the period. AQR Capital Management LLC bought a new stake in Metagenomi during the 1st quarter worth approximately $119,000. Norges Bank purchased a new stake in Metagenomi in the 2nd quarter worth approximately $373,000. Marshall Wace LLP purchased a new stake in Metagenomi in the 2nd quarter worth approximately $222,000. Finally, Jane Street Group LLC bought a new position in Metagenomi in the 2nd quarter valued at $235,000.

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.