Key Points
- Director Laurence Reid purchased 20,000 Metagenomi shares at an average price of $1.17, investing $23,400 and becoming the direct owner of 20,000 shares.
- Metagenomi reported weaker-than-expected quarterly results, with an EPS loss of $0.73 versus a consensus loss of $0.55 and revenue of negative $0.26 million compared with expectations of $3.01 million.
- MGX shares opened at $1.16, near their 12-month low of $1.13. Despite mixed analyst views, the stock carries a “Moderate Buy” consensus rating and a $6.00 average price target.
Metagenomi, Inc. (NASDAQ:MGX - Get Free Report) Director Laurence Reid acquired 20,000 shares of the firm's stock in a transaction dated Wednesday, September 9th. The shares were bought at an average cost of $1.17 per share, with a total value of $23,400.00. Following the completion of the acquisition, the director directly owned 20,000 shares of the company's stock, valued at $23,400. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
Metagenomi Price Performance
Shares of Metagenomi stock opened at $1.16 on Friday. Metagenomi, Inc. has a twelve month low of $1.13 and a twelve month high of $3.95. The company's 50 day moving average is $1.22 and its 200 day moving average is $1.32. The company has a market cap of $43.82 million, a price-to-earnings ratio of -0.47 and a beta of 0.67.
Metagenomi (NASDAQ:MGX - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.18). Metagenomi had a negative net margin of 384.61% and a negative return on equity of 63.65%. The firm had revenue of ($0.26) million for the quarter, compared to the consensus estimate of $3.01 million. Sell-side analysts expect that Metagenomi, Inc. will post -2.5 EPS for the current fiscal year.
Institutional Trading of Metagenomi
Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in Metagenomi by 1,840.0% during the third 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 period. Bank of America Corp DE boosted 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 worth $44,000 after purchasing an additional 15,682 shares during the period. Panagora Asset Management Inc. bought a new stake in shares of Metagenomi in the 4th quarter worth about $53,000. Quadrature Capital Ltd bought a new stake in shares of Metagenomi in the 4th quarter worth about $55,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Metagenomi during the 3rd quarter worth about $64,000.
Wall Street Analyst Weigh In
A number of research firms have weighed in on MGX. Wells Fargo & Company dropped their price target on shares of Metagenomi to $7.00 and set an "overweight" rating for the company in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Metagenomi from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. Chardan Capital began coverage on shares of Metagenomi in a report on Tuesday, July 7th. They issued a "buy" rating and a $5.00 target price for the company. Finally, Wall Street Zen lowered Metagenomi from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $6.00.
Read Our Latest Analysis on MGX
About Metagenomi
(
Get Free Report)
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.
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