Metagenomi (NASDAQ:MGX) Given New $9.00 Price Target at Wells Fargo & Company

Metagenomi (NASDAQ:MGX) had its target price lowered by Wells Fargo & Company from $12.00 to $9.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on MGX. Wall Street Zen downgraded Metagenomi from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings raised Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Metagenomi Stock Performance

Shares of MGX opened at $1.35 on Tuesday. The firm has a market capitalization of $50.83 million, a price-to-earnings ratio of -0.59 and a beta of 0.63. The business’s fifty day moving average price is $1.44 and its two-hundred day moving average price is $1.65. Metagenomi has a 52 week low of $1.25 and a 52 week high of $3.95.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.01). The firm had revenue of $1.25 million during the quarter, compared to the consensus estimate of $5.90 million. Metagenomi had a negative net margin of 384.61% and a negative return on equity of 48.35%. As a group, research analysts forecast that Metagenomi will post -2.06 EPS for the current year.

Institutional Trading of Metagenomi

Several hedge funds have recently added to or reduced their stakes in MGX. BNP Paribas Financial Markets raised its stake in Metagenomi by 1,840.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock worth $36,000 after buying an additional 14,389 shares during the period. Bank of America Corp DE raised its stake in Metagenomi by 508.5% during the 3rd quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock worth $44,000 after buying an additional 15,682 shares during the period. Panagora Asset Management Inc. acquired a new stake in Metagenomi during the 4th quarter worth $53,000. Quadrature Capital Ltd acquired a new stake in Metagenomi during the 4th quarter worth $55,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Metagenomi during the 3rd quarter worth $64,000.

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.