Metagenomi (NASDAQ:MGX) Given New $9.00 Price Target at Wells Fargo & Company

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

Other analysts have also issued research reports about the company. Wall Street Zen lowered 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 report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Metagenomi has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Metagenomi Stock Performance

MGX opened at $1.34 on Tuesday. The stock’s 50 day moving average price is $1.45 and its 200-day moving average price is $1.66. Metagenomi has a one year low of $1.25 and a one year high of $3.95. The stock 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 issued its quarterly earnings results on Monday, May 11th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.04). Metagenomi had a negative return on equity of 47.14% and a negative net margin of 348.54%.The business had revenue of $1.25 million for the quarter, compared to the consensus estimate of $5.90 million. As a group, analysts predict that Metagenomi will post -2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Metagenomi

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Metagenomi by 276.3% during the fourth quarter. Renaissance Technologies LLC now owns 628,400 shares of the company’s stock valued at $1,018,000 after buying an additional 461,400 shares during the period. Peapod Lane Capital LLC grew its holdings in Metagenomi by 1.1% during the 3rd quarter. Peapod Lane Capital LLC now owns 513,815 shares of the company’s stock worth $1,218,000 after acquiring an additional 5,706 shares in the last quarter. Jane Street Group LLC increased its position in Metagenomi by 341.6% during the 4th quarter. Jane Street Group LLC now owns 433,859 shares of the company’s stock valued at $703,000 after purchasing an additional 335,604 shares during the period. Bridgeway Capital Management LLC increased its position in Metagenomi by 102.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 395,800 shares of the company’s stock valued at $641,000 after purchasing an additional 200,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Metagenomi by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 305,908 shares of the company’s stock valued at $496,000 after purchasing an additional 14,018 shares in 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.