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 research note issued on Monday.

Other research analysts have also issued reports about the stock. Wells Fargo & Company reduced their target price 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 upgraded shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Finally, Chardan Capital initiated coverage on shares of Metagenomi in a research report on Tuesday, July 7th. They issued a “buy” rating and a $5.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Metagenomi Price Performance

NASDAQ MGX opened at $1.24 on Monday. Metagenomi has a fifty-two week low of $1.13 and a fifty-two week high of $3.95. The stock has a market cap of $46.69 million, a price-to-earnings ratio of -0.54 and a beta of 0.69. The business has a fifty day moving average of $1.27 and a 200-day moving average of $1.43.

Metagenomi (NASDAQ:MGX) last posted 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 company had revenue of $1.25 million for the quarter, compared to analyst estimates of $5.90 million. Metagenomi had a negative net margin of 384.61% and a negative return on equity of 51.23%. As a group, analysts anticipate that Metagenomi will post -2.17 EPS for the current year.

Hedge Funds Weigh In On Metagenomi

Several institutional investors have recently added to or reduced their stakes in MGX. Renaissance Technologies LLC boosted its stake in Metagenomi by 25.4% in the 1st quarter. Renaissance Technologies LLC now owns 787,900 shares of the company’s stock worth $1,056,000 after buying an additional 159,500 shares during the last quarter. Jane Street Group LLC grew its holdings in Metagenomi by 341.6% in the 4th quarter. Jane Street Group LLC now owns 433,859 shares of the company’s stock valued at $703,000 after buying an additional 335,604 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of Metagenomi by 102.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 395,800 shares of the company’s stock valued at $641,000 after acquiring an additional 200,000 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Metagenomi by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 305,908 shares of the company’s stock valued at $496,000 after acquiring an additional 14,018 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Metagenomi during the 2nd quarter worth about $373,000.

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.