Metagenomi, Inc. (NASDAQ:MGX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Metagenomi, Inc. (NASDAQ:MGX) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.00.

A number of research firms have commented on MGX. Zacks Research upgraded Metagenomi from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Wall Street Zen raised shares of Metagenomi from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Metagenomi in a research note on Monday, December 22nd.

Hedge Funds Weigh In On Metagenomi

Several hedge funds have recently made changes to their positions in MGX. JPMorgan Chase & Co. raised its stake in Metagenomi by 4,155.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,559 shares of the company’s stock worth $148,000 after acquiring an additional 61,089 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of 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. Man Group plc purchased a new position in shares of Metagenomi in the third quarter worth about $125,000. Two Sigma Investments LP lifted its holdings in shares of Metagenomi by 1,394.4% during the third 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 period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Metagenomi by 98.4% during the third 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 period.

Metagenomi Trading Down 3.6%

NASDAQ MGX opened at $1.60 on Thursday. The firm’s fifty day simple moving average is $1.69 and its two-hundred day simple moving average is $2.05. The firm has a market capitalization of $60.08 million, a P/E ratio of -0.67 and a beta of 0.50. Metagenomi has a 12-month low of $1.23 and a 12-month high of $3.95.

Metagenomi (NASDAQ:MGX) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.55) EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $7.82 million. As a group, sell-side analysts predict that Metagenomi will post -2.46 earnings per share for the current fiscal year.

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.