Metagenomi (NASDAQ:MGX) Director Laurence Reid Buys 20,000 Shares

Metagenomi, Inc. (NASDAQ:MGX) Director Laurence Reid bought 20,000 shares of Metagenomi stock in a transaction on Wednesday, September 9th. The shares were purchased at an average price of $1.17 per share, for a total transaction of $23,400.00. Following the acquisition, the director directly owned 20,000 shares in the company, valued at approximately $23,400. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Metagenomi Price Performance

MGX opened at $1.16 on Friday. The stock has a market cap of $43.82 million, a PE ratio of -0.47 and a beta of 0.67. The business has a 50 day moving average of $1.22 and a 200-day moving average of $1.32. Metagenomi, Inc. has a 52 week low of $1.13 and a 52 week high of $3.95.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.18). The firm had revenue of ($0.26) million for the quarter, compared to the consensus estimate of $3.01 million. Metagenomi had a negative net margin of 384.61% and a negative return on equity of 63.65%. Equities analysts anticipate that Metagenomi, Inc. will post -2.5 EPS for the current year.

Hedge Funds Weigh In On Metagenomi

A number of hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in Metagenomi by 1,840.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock valued at $36,000 after purchasing an additional 14,389 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Metagenomi during the third quarter valued at $64,000. Panagora Asset Management Inc. purchased a new stake in shares of Metagenomi during the fourth quarter valued at $53,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Metagenomi during the fourth quarter valued at $55,000.

Analysts Set New Price Targets

MGX has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Metagenomi to $7.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Chardan Capital assumed coverage on Metagenomi in a research note on Tuesday, July 7th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, Wall Street Zen cut Metagenomi from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.00.

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.