Metagenomi (NASDAQ:MGX) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Metagenomi (NASDAQ:MGX) announced its quarterly earnings data on Monday. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01), Zacks reports. Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%.

Metagenomi Stock Performance

Shares of NASDAQ MGX traded down $0.06 during midday trading on Monday, reaching $1.88. 440,558 shares of the company were exchanged, compared to its average volume of 728,899. The stock’s 50-day moving average price is $2.52 and its 200-day moving average price is $2.52. Metagenomi has a one year low of $1.61 and a one year high of $11.86.

Institutional Trading of Metagenomi

A hedge fund recently raised its stake in Metagenomi stock. Bank of America Corp DE boosted its position in Metagenomi, Inc. (NASDAQ:MGX) by 482.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,113 shares of the company’s stock after buying an additional 17,491 shares during the period. Bank of America Corp DE owned approximately 0.06% of Metagenomi worth $76,000 at the end of the most recent quarter.

Analysts Set New Price Targets

A number of brokerages have commented on MGX. HC Wainwright increased their price target on shares of Metagenomi from $7.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Metagenomi in a research note on Wednesday, November 20th.

About Metagenomi

Metagenomi, Inc, a genetic medicines company, develops therapeutics for patients using metagenomics-derived genome editing toolbox in the United States. The company's genome editing toolbox includes programmable nucleases, base editors, and RNA and DNA-mediated integration systems, such as prime editing systems and clustered regularly interspaced short palindromic repeat-associated transposases.