Brokerages Set Metagenomi, Inc. (NASDAQ:MGX) PT at $9.00

Metagenomi, Inc. (NASDAQ:MGX) has earned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $9.00.

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of Metagenomi from a “strong sell” rating to a “sell” rating in a research report on Monday, June 15th. Wells Fargo & Company lowered their price objective on Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Finally, Weiss Ratings cut Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd.

Institutional Investors Weigh In On Metagenomi

A number of institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in Metagenomi by 276.3% during the fourth quarter. Renaissance Technologies LLC now owns 628,400 shares of the company’s stock worth $1,018,000 after purchasing an additional 461,400 shares during the last quarter. Jane Street Group LLC increased its stake in Metagenomi by 341.6% during the fourth quarter. Jane Street Group LLC now owns 433,859 shares of the company’s stock valued at $703,000 after purchasing an additional 335,604 shares during the last quarter. Norges Bank acquired a new stake in shares of Metagenomi during the second quarter worth $373,000. Bridgeway Capital Management LLC raised its holdings 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 purchasing an additional 200,000 shares during the period. Finally, Two Sigma Investments LP raised its holdings in shares of Metagenomi by 1,394.4% during the third quarter. Two Sigma Investments LP now owns 207,528 shares of the company’s stock worth $492,000 after purchasing an additional 193,641 shares during the period.

Metagenomi Price Performance

MGX opened at $1.26 on Friday. The stock has a market capitalization of $47.44 million, a PE ratio of -0.55 and a beta of 0.69. The firm’s fifty day moving average price is $1.30 and its 200 day moving average price is $1.46. Metagenomi has a 12-month low of $1.13 and a 12-month high of $3.95.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 51.23% and a negative net margin of 384.61%. On average, equities research analysts forecast that Metagenomi will post -2.13 earnings per share for the current fiscal year.

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.