Metagenomi (NASDAQ:MGX) Director Buys $23,400.00 in Stock

Metagenomi, Inc. (NASDAQ:MGX) Director Laurence Reid bought 20,000 shares of the stock in a transaction on Wednesday, September 9th. The stock was purchased at an average price of $1.17 per share, for a total transaction of $23,400.00. Following the completion of the purchase, the director directly owned 20,000 shares in the company, valued at approximately $23,400. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Metagenomi Price Performance

Shares of NASDAQ:MGX opened at $1.16 on Monday. The firm has a fifty day moving average price of $1.22 and a two-hundred day moving average price of $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, Inc. has a one year low of $1.13 and a one year 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). Metagenomi had a negative return on equity of 63.65% and a negative net margin of 384.61%.The firm had revenue of ($0.26) million during the quarter, compared to the consensus estimate of $3.01 million. Equities research analysts expect that Metagenomi, Inc. will post -2.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MGX. Wells Fargo & Company decreased their target price on Metagenomi to $7.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen downgraded Metagenomi from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Chardan Capital began coverage on Metagenomi in a report on Tuesday, July 7th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGX. BNP Paribas Financial Markets increased its position in shares of 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 raised its holdings in Metagenomi by 508.5% during the 3rd quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock valued at $44,000 after buying an additional 15,682 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Metagenomi during the third quarter valued at about $64,000. Panagora Asset Management Inc. purchased a new stake in shares of Metagenomi during the fourth quarter worth about $53,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Metagenomi during the fourth quarter worth about $55,000.

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.