Metagenomi (NASDAQ:MGX) Stock Rating Upgraded by Wall Street Zen

Metagenomi (NASDAQ:MGX) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Metagenomi from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings cut shares of Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 19th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Metagenomi Trading Down 2.9%

MGX stock opened at $1.36 on Friday. Metagenomi has a twelve month low of $1.24 and a twelve month high of $3.95. The company’s 50 day moving average is $1.39 and its two-hundred day moving average is $1.55. The stock has a market cap of $51.20 million, a P/E ratio of -0.59 and a beta of 0.63.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.01). Metagenomi had a negative return on equity of 51.23% and a negative net margin of 384.61%.The company had revenue of $1.25 million for the quarter, compared to analyst estimates of $5.90 million. On average, equities research analysts predict that Metagenomi will post -2.13 earnings per share for the current year.

Hedge Funds Weigh In On Metagenomi

A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its position in shares of Metagenomi by 25.4% during the first quarter. Renaissance Technologies LLC now owns 787,900 shares of the company’s stock worth $1,056,000 after acquiring an additional 159,500 shares during the last quarter. XTX Topco Ltd grew its position in shares of Metagenomi by 353.4% during the fourth quarter. XTX Topco Ltd now owns 68,994 shares of the company’s stock worth $112,000 after acquiring an additional 53,778 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Metagenomi during the fourth quarter worth approximately $55,000. Bridgeway Capital Management LLC grew its position in shares of Metagenomi by 102.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 395,800 shares of the company’s stock worth $641,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in shares of Metagenomi during the fourth quarter worth approximately $53,000.

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.