Metagenomi (NASDAQ:MGX) Releases Earnings Results

Metagenomi (NASDAQ:MGX) posted its quarterly earnings results on Tuesday. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.08, FiscalAI reports. Metagenomi had a negative return on equity of 63.65% and a negative net margin of 384.61%. The business had revenue of $2.18 million for the quarter, compared to analyst estimates of $2.58 million.

Metagenomi Stock Up 16.4%

NASDAQ MGX traded up $0.12 on Wednesday, reaching $0.81. The stock had a trading volume of 227,805 shares, compared to its average volume of 191,889. The firm has a market capitalization of $30.79 million, a price-to-earnings ratio of -0.33 and a beta of 0.82. Metagenomi has a 12-month low of $0.60 and a 12-month high of $2.01. The stock has a fifty day moving average price of $0.98 and a two-hundred day moving average price of $1.26.

Analysts Set New Price Targets

Several research firms have recently commented on MGX. Wall Street Zen lowered shares of Metagenomi from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Weiss Ratings lowered Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 22nd. Finally, Wells Fargo & Company cut their target price on Metagenomi to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.00.

Metagenomi Company Profile

Metagenomi, Inc. is a biotechnology company focused on developing genetic medicines using genome-editing technologies. The company uses metagenomics—the study of genetic material recovered from environmental microorganisms—to discover and characterize naturally occurring CRISPR systems and other programmable enzymes that may offer advantages over conventional gene-editing tools. Metagenomi’s technology platform is designed to support the development of therapies for genetic diseases by enabling targeted DNA editing, including gene insertion, deletion and correction.