Metagenomi (NASDAQ:MGX) Downgraded by Wall Street Zen to Sell

Metagenomi (NASDAQ:MGX) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Metagenomi in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Metagenomi Stock Performance

NASDAQ:MGX opened at $1.41 on Friday. Metagenomi has a 52 week low of $1.23 and a 52 week high of $3.95. The firm has a 50-day moving average price of $1.56 and a two-hundred day moving average price of $1.90. The firm has a market cap of $52.86 million, a price-to-earnings ratio of -0.59 and a beta of 0.45.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.02). Metagenomi had a negative return on equity of 47.14% and a negative net margin of 348.54%.The business had revenue of $3.91 million during the quarter, compared to analysts’ expectations of $7.33 million. As a group, sell-side analysts forecast that Metagenomi will post -2.46 earnings per share for the current year.

Institutional Investors Weigh In On Metagenomi

Several institutional investors have recently added to or reduced their stakes in MGX. BNP Paribas Financial Markets boosted its position in Metagenomi by 1,840.0% during the third quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock worth $36,000 after purchasing an additional 14,389 shares during the period. Bank of America Corp DE raised its position 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. Dynamic Technology Lab Private Ltd bought a new stake in shares of Metagenomi in the third quarter valued at approximately $64,000. Panagora Asset Management Inc. purchased a new stake in shares of Metagenomi during the 4th quarter valued at approximately $53,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Metagenomi during the 4th quarter valued at approximately $55,000.

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.