Wells Fargo & Company Has Lowered Expectations for Metagenomi (NASDAQ:MGX) Stock Price

Metagenomi (NASDAQ:MGX) had its price target lowered by equities research analysts at Wells Fargo & Company from $12.00 to $9.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock.

Several other research analysts have also commented on the stock. Wall Street Zen lowered shares of Metagenomi from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings upgraded shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Metagenomi Trading Down 0.7%

MGX opened at $1.34 on Tuesday. Metagenomi has a 12 month low of $1.25 and a 12 month high of $3.95. The stock has a fifty day moving average price of $1.45 and a 200-day moving average price of $1.66. The firm has a market cap of $50.45 million, a price-to-earnings ratio of -0.57 and a beta of 0.63.

Metagenomi (NASDAQ:MGX) last posted its earnings results on Monday, May 11th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.04). The company had revenue of $1.25 million during the quarter, compared to analysts’ expectations of $5.90 million. Metagenomi had a negative net margin of 348.54% and a negative return on equity of 47.14%. On average, equities research analysts forecast that Metagenomi will post -2.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MGX. Peapod Lane Capital LLC increased its holdings in Metagenomi by 1.1% in the 3rd quarter. Peapod Lane Capital LLC now owns 513,815 shares of the company’s stock worth $1,218,000 after buying an additional 5,706 shares during the period. Geode Capital Management LLC increased its stake in shares of Metagenomi by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 305,908 shares of the company’s stock worth $496,000 after acquiring an additional 14,018 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Metagenomi by 1,840.0% during the third quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock worth $36,000 after purchasing an additional 14,389 shares during the last quarter. Bank of America Corp DE lifted its position in Metagenomi by 508.5% during the third quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock valued at $44,000 after purchasing an additional 15,682 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Metagenomi by 16.1% in the fourth quarter. Wells Fargo & Company MN now owns 118,410 shares of the company’s stock valued at $192,000 after purchasing an additional 16,402 shares during the last quarter.

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.