Metagenomi (NASDAQ:MGX) Posts Earnings Results, Misses Estimates By $0.18 EPS

Metagenomi (NASDAQ:MGX) released its quarterly earnings results on Monday. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.18), FiscalAI reports. Metagenomi had a negative net margin of 384.61% and a negative return on equity of 51.23%. The company had revenue of ($0.26) million during the quarter, compared to analyst estimates of $3.01 million.

Metagenomi Price Performance

Shares of MGX stock remained flat at $1.23 during trading on Monday. 151,508 shares of the company were exchanged, compared to its average volume of 207,514. Metagenomi has a 52-week low of $1.13 and a 52-week high of $3.95. The company has a fifty day simple moving average of $1.24 and a 200-day simple moving average of $1.38. The firm has a market cap of $46.31 million, a P/E ratio of -0.53 and a beta of 0.66.

Hedge Funds Weigh In On Metagenomi

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings in Metagenomi by 276.3% during the 4th quarter. Renaissance Technologies LLC now owns 628,400 shares of the company’s stock worth $1,018,000 after acquiring an additional 461,400 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Metagenomi by 341.6% during the fourth quarter. Jane Street Group LLC now owns 433,859 shares of the company’s stock worth $703,000 after purchasing an additional 335,604 shares in the last quarter. Norges Bank purchased a new position in Metagenomi in the second quarter valued at $373,000. Bridgeway Capital Management LLC lifted its holdings in 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 buying an additional 200,000 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Metagenomi by 1,394.4% during the 3rd quarter. Two Sigma Investments LP now owns 207,528 shares of the company’s stock worth $492,000 after acquiring an additional 193,641 shares in the last quarter.

Analyst Upgrades and Downgrades

MGX has been the topic of several recent research reports. Chardan Capital began coverage on Metagenomi in a report on Tuesday, July 7th. They set a “buy” rating and a $5.00 target price on the stock. Wall Street Zen upgraded Metagenomi from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th. Weiss Ratings lowered Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 23rd. Finally, Wells Fargo & Company dropped their target price on Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.00.

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.