Short Interest in Metagenomi, Inc. (NASDAQ:MGX) Grows By 27.1%

Metagenomi, Inc. (NASDAQ:MGX) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totaling 2,045,457 shares, an increase of 27.1% from the November 30th total of 1,609,444 shares. Approximately 6.6% of the company’s stock are sold short. Based on an average daily volume of 390,530 shares, the short-interest ratio is currently 5.2 days. Based on an average daily volume of 390,530 shares, the short-interest ratio is currently 5.2 days. Approximately 6.6% of the company’s stock are sold short.

Metagenomi Stock Performance

MGX opened at $1.60 on Wednesday. The business’s 50-day simple moving average is $1.93 and its 200 day simple moving average is $2.04. The firm has a market capitalization of $60.05 million, a PE ratio of -0.67 and a beta of 0.49. Metagenomi has a 52-week low of $1.23 and a 52-week high of $4.06.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.05. Metagenomi had a negative return on equity of 43.19% and a negative net margin of 287.06%.The firm had revenue of $8.66 million for the quarter, compared to analyst estimates of $7.82 million. On average, research analysts forecast that Metagenomi will post -2.46 earnings per share for the current year.

Institutional Trading of Metagenomi

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGX. Bank of America Corp DE grew its position in shares of Metagenomi by 482.9% in the 4th 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. Nuveen LLC acquired a new stake in Metagenomi in the 1st quarter valued at about $86,000. AQR Capital Management LLC bought a new position in Metagenomi during the first quarter worth about $119,000. Vanguard Personalized Indexing Management LLC increased its position in Metagenomi by 53.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,515 shares of the company’s stock worth $32,000 after buying an additional 7,458 shares during the last quarter. Finally, Peapod Lane Capital LLC increased its position in Metagenomi by 44.2% during the second quarter. Peapod Lane Capital LLC now owns 508,109 shares of the company’s stock worth $752,000 after buying an additional 155,652 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on MGX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Metagenomi in a research report on Monday, December 22nd. Zacks Research raised Metagenomi from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, Wall Street Zen raised shares of Metagenomi from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. One 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

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.