Wall Street Zen Upgrades Metagenomi (NASDAQ:MGX) to Sell

Metagenomi (NASDAQ:MGX) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Monday.

Several other brokerages have also recently commented on MGX. Wells Fargo & Company decreased their price target on shares of Metagenomi from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Chardan Capital assumed coverage on Metagenomi in a report on Tuesday, July 7th. They issued a “buy” rating and a $5.00 target price on the stock. Finally, Weiss Ratings upgraded Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Metagenomi Price Performance

Metagenomi stock opened at $1.22 on Monday. The stock has a market cap of $45.93 million, a P/E ratio of -0.53 and a beta of 0.69. Metagenomi has a 1 year low of $1.13 and a 1 year high of $3.95. The firm’s 50 day moving average price is $1.27 and its 200-day moving average price is $1.43.

Metagenomi (NASDAQ:MGX) last issued its earnings results on Monday, May 11th. The company reported ($0.61) earnings per share 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 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%. As a group, equities analysts expect that Metagenomi will post -2.17 EPS for the current year.

Hedge Funds Weigh In On Metagenomi

Several institutional investors have recently bought and sold shares of MGX. BNP Paribas Financial Markets grew its stake in shares of Metagenomi by 1,840.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock worth $36,000 after buying an additional 14,389 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Metagenomi by 508.5% in the 3rd quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock valued at $44,000 after acquiring an additional 15,682 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Metagenomi in the 4th quarter valued at about $53,000. Quadrature Capital Ltd purchased a new position in Metagenomi in the fourth quarter worth about $55,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Metagenomi in the third quarter worth about $64,000.

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.