Metagenomi (NASDAQ:MGX) Announces Quarterly Earnings Results

Metagenomi (NASDAQ:MGX) issued its earnings results on Monday. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.18), FiscalAI reports. Metagenomi had a negative return on equity of 51.23% and a negative net margin of 384.61%.The firm had revenue of ($0.26) million during the quarter, compared to analysts’ expectations of $3.01 million.

Metagenomi Stock Performance

Shares of MGX opened at $1.23 on Tuesday. The firm has a fifty day simple moving average of $1.24 and a two-hundred day simple moving average of $1.38. The firm has a market cap of $46.31 million, a PE ratio of -0.53 and a beta of 0.66. Metagenomi has a 1-year low of $1.13 and a 1-year high of $3.95.

Analyst Upgrades and Downgrades

MGX has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Metagenomi from a “strong sell” rating to a “sell” rating in a report on Monday, July 20th. Weiss Ratings downgraded Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 23rd. Chardan Capital assumed coverage on Metagenomi in a report on Tuesday, July 7th. They issued a “buy” rating and a $5.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew 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 acquiring an additional 14,389 shares during the period. Bank of America Corp DE grew its holdings in 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 during the period. Panagora Asset Management Inc. purchased a new stake in Metagenomi in the fourth quarter worth about $53,000. Quadrature Capital Ltd purchased a new stake in Metagenomi in the fourth quarter worth about $55,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Metagenomi in the third quarter worth about $64,000.

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.