Metagenomi (NASDAQ:MGX) Issues Quarterly Earnings Results

Metagenomi (NASDAQ:MGX) issued its quarterly earnings data on Monday. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.18), FiscalAI reports. The firm had revenue of ($0.26) million during the quarter, compared to analysts’ expectations of $3.01 million. Metagenomi had a negative net margin of 384.61% and a negative return on equity of 51.23%.

Metagenomi Stock Performance

MGX remained flat at $1.23 during trading on Monday. The company’s stock had a trading volume of 151,508 shares, compared to its average volume of 207,514. The business has a fifty day simple moving average of $1.24 and a 200 day simple moving average of $1.38. The stock has a market cap of $46.31 million, a PE ratio of -0.53 and a beta of 0.66. Metagenomi has a 52 week low of $1.13 and a 52 week high of $3.95.

Hedge Funds Weigh In On Metagenomi

Several institutional investors have recently added to or reduced their stakes in MGX. BNP Paribas Financial Markets grew its holdings 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 period. Bank of America Corp DE grew its holdings in Metagenomi by 508.5% in the third 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 during the period. Panagora Asset Management Inc. acquired a new position in Metagenomi during the fourth quarter worth approximately $53,000. Quadrature Capital Ltd purchased a new position in Metagenomi during the fourth quarter worth approximately $55,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Metagenomi in the 3rd quarter valued at $64,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Metagenomi from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th. Wells Fargo & Company reduced their target price on Metagenomi from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Chardan Capital began coverage on Metagenomi in a research report on Tuesday, July 7th. They set a “buy” rating and a $5.00 price target for the company. Finally, Weiss Ratings downgraded Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.00.

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.