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

Metagenomi, Inc. (NASDAQ:MGX) Director Laurence Reid purchased 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were purchased at an average cost of $1.17 per share, with a total value of $23,400.00. Following the completion of the acquisition, the director directly owned 20,000 shares in the company, valued at $23,400. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Metagenomi Price Performance

NASDAQ:MGX remained flat at $1.16 on Friday. 53,987 shares of the company’s stock were exchanged, compared to its average volume of 158,543. Metagenomi, Inc. has a 52-week low of $1.13 and a 52-week high of $3.95. The stock’s fifty day simple moving average is $1.22 and its two-hundred day simple moving average is $1.32.

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

Analyst Ratings Changes

A number of equities analysts have commented on MGX shares. Chardan Capital assumed coverage on Metagenomi in a research note on Tuesday, July 7th. They issued a “buy” rating and a $5.00 price objective on the stock. 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 shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on shares of Metagenomi to $7.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Metagenomi by 4.8% during 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 during the last quarter. BNP Paribas Financial Markets boosted its holdings in Metagenomi by 1,840.0% in the third quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock valued at $36,000 after acquiring an additional 14,389 shares during the last quarter. Bank of America Corp DE boosted 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 acquiring an additional 15,682 shares during the last quarter. Wells Fargo & Company MN increased its position in Metagenomi by 16.1% in the fourth quarter. Wells Fargo & Company MN now owns 118,410 shares of the company’s stock worth $192,000 after purchasing an additional 16,402 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Metagenomi in the third quarter worth about $64,000.

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.