Metagenomi (NASDAQ:MGX) Price Target Cut to $5.00 by Analysts at Chardan Capital

Metagenomi (NASDAQ:MGX) had its target price decreased by stock analysts at Chardan Capital from $7.00 to $5.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s price target would indicate a potential upside of 300.00% from the company’s previous close.

A number of other analysts have also issued reports on the company. Wells Fargo & Company lowered their price target on Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Weiss Ratings downgraded Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded Metagenomi from a “strong sell” rating to a “sell” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Metagenomi has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Metagenomi Trading Down 0.8%

Shares of MGX opened at $1.25 on Tuesday. Metagenomi has a 1-year low of $1.13 and a 1-year high of $3.95. The company has a 50-day moving average of $1.30 and a 200 day moving average of $1.46.

Metagenomi (NASDAQ:MGX) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $5.90 million. Metagenomi had a negative return on equity of 51.23% and a negative net margin of 384.61%. Equities research analysts predict that Metagenomi will post -2.13 EPS for the current year.

Hedge Funds Weigh In On Metagenomi

A number of large investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in 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 buying an additional 159,500 shares during the period. XTX Topco Ltd raised its position in shares of Metagenomi by 353.4% in the 4th quarter. XTX Topco Ltd now owns 68,994 shares of the company’s stock worth $112,000 after acquiring an additional 53,778 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Metagenomi in the 4th quarter worth $55,000. Bridgeway Capital Management LLC lifted 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 worth $641,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Metagenomi during the 4th quarter worth $53,000.

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.