Chardan Capital Decreases Earnings Estimates for Metagenomi

Key Points

• Chardan Capital has lowered its FY2025 earnings estimate for Metagenomi to ($2.34) per share, down from a previous estimate of ($1.44), while maintaining a "Buy" rating with a target price of $11.00.
• Metagenomi's most recent earnings report showed a loss of ($0.54) EPS, which exceeded analysts' expectations of ($0.68), along with revenue of $8.51 million compared to a consensus estimate of $7.72 million.
• Several institutional investors have increased their stakes in Metagenomi, with Pura Vida Investments LLC increasing its position by 260.1% during the second quarter.

Metagenomi, Inc. (NASDAQ:MGX - Free Report) - Equities researchers at Chardan Capital lowered their FY2025 earnings estimates for shares of Metagenomi in a report issued on Monday, August 18th. Chardan Capital analyst G. Livshits now forecasts that the company will post earnings per share of ($2.34) for the year, down from their previous forecast of ($1.44). Chardan Capital has a "Buy" rating and a $11.00 price target on the stock. The consensus estimate for Metagenomi's current full-year earnings is ($2.46) per share. Chardan Capital also issued estimates for Metagenomi's FY2026 earnings at ($1.20) EPS.

Metagenomi (NASDAQ:MGX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.14. The firm had revenue of $8.51 million for the quarter, compared to the consensus estimate of $7.72 million. Metagenomi had a negative net margin of 257.99% and a negative return on equity of 37.84%.

Several other analysts also recently weighed in on MGX. HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Metagenomi in a research report on Tuesday, August 19th. Wall Street Zen downgraded shares of Metagenomi from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company cut their price objective on shares of Metagenomi from $16.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $10.00.

Metagenomi Trading Down 0.3%

NASDAQ:MGX traded down $0.01 during mid-day trading on Thursday, hitting $1.88. The stock had a trading volume of 53,245 shares, compared to its average volume of 674,335. The stock has a market capitalization of $70.37 million, a price-to-earnings ratio of -0.79 and a beta of -0.12. The company has a 50 day simple moving average of $1.94 and a 200-day simple moving average of $1.81. Metagenomi has a 52 week low of $1.23 and a 52 week high of $4.92.

Institutional Trading of Metagenomi

A number of hedge funds and other institutional investors have recently made changes to their positions in MGX. Geode Capital Management LLC raised its holdings in shares of Metagenomi by 73.8% during the fourth quarter. Geode Capital Management LLC now owns 587,421 shares of the company's stock valued at $2,121,000 after acquiring an additional 249,390 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Metagenomi by 54.5% during the fourth quarter. Wells Fargo & Company MN now owns 95,188 shares of the company's stock valued at $344,000 after acquiring an additional 33,582 shares during the period. Voya Investment Management LLC acquired a new stake in shares of Metagenomi during the fourth quarter valued at approximately $37,000. JPMorgan Chase & Co. raised its holdings in shares of Metagenomi by 811.6% during the fourth quarter. JPMorgan Chase & Co. now owns 73,031 shares of the company's stock valued at $264,000 after acquiring an additional 65,020 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Metagenomi by 39.6% during the first quarter. Bank of New York Mellon Corp now owns 50,387 shares of the company's stock valued at $69,000 after acquiring an additional 14,296 shares during the period.

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.