Metagenomi (NASDAQ:MGX) Trading Down 1.2% – Here’s What Happened

Metagenomi, Inc. (NASDAQ:MGX)’s stock price traded down 1.2% during mid-day trading on Monday . The stock traded as low as $1.64 and last traded at $1.67. 197,840 shares changed hands during trading, a decline of 29% from the average session volume of 280,509 shares. The stock had previously closed at $1.69.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MGX. Zacks Research raised Metagenomi from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Wall Street Zen upgraded Metagenomi from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Metagenomi in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Metagenomi has an average rating of “Moderate Buy” and an average price target of $10.00.

Metagenomi Price Performance

The firm has a market cap of $62.71 million, a P/E ratio of -0.70 and a beta of 0.50. The stock’s 50 day moving average is $1.69 and its two-hundred day moving average is $2.05.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $8.66 million for the quarter, compared to the consensus estimate of $7.82 million. As a group, research analysts forecast that Metagenomi, Inc. will post -2.46 EPS for the current fiscal year.

Institutional Trading of Metagenomi

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Metagenomi by 4,155.7% in the third quarter. JPMorgan Chase & Co. now owns 62,559 shares of the company’s stock valued at $148,000 after acquiring an additional 61,089 shares during the period. Bank of America Corp DE lifted its holdings in shares of Metagenomi by 508.5% during 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 period. Man Group plc acquired a new stake in shares of Metagenomi in the 3rd quarter valued at $125,000. Two Sigma Investments LP grew its holdings in shares of Metagenomi by 1,394.4% in the 3rd quarter. Two Sigma Investments LP now owns 207,528 shares of the company’s stock worth $492,000 after purchasing an additional 193,641 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Metagenomi by 98.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 195,800 shares of the company’s stock worth $464,000 after purchasing an additional 97,100 shares during the last quarter.

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.