Hhlr Advisors LTD. Sells 627,069 Shares of Metagenomi, Inc. $MGX

Key Points

• Hhlr Advisors LTD. reduced its stake in Metagenomi, Inc. by 80.6%, selling 627,069 shares, and now owns approximately 0.40% of the company.
• JPMorgan Chase & Co. significantly increased its holdings in Metagenomi by 811.6%, following similar moves by other institutional investors like Northern Trust Corp and Barclays PLC.
• Metagenomi reported a quarterly loss with an EPS of (0.54), beating analysts' estimates and generating revenues of $8.51 million, exceeding the consensus estimate of $7.72 million.

Hhlr Advisors LTD. decreased its position in shares of Metagenomi, Inc. (NASDAQ:MGX - Free Report) by 80.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,699 shares of the company's stock after selling 627,069 shares during the period. Hhlr Advisors LTD. owned 0.40% of Metagenomi worth $205,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Northern Trust Corp raised its position in shares of Metagenomi by 185.6% during the fourth quarter. Northern Trust Corp now owns 223,934 shares of the company's stock valued at $808,000 after buying an additional 145,536 shares during the last quarter. Wells Fargo & Company MN raised its position 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 buying an additional 33,582 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 buying an additional 65,020 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Metagenomi during the fourth quarter valued at about $228,000. Finally, Nuveen LLC acquired a new position in shares of Metagenomi during the first quarter valued at about $86,000.

Metagenomi Trading Up 7.3%

Shares of MGX traded up $0.13 during mid-day trading on Friday, hitting $1.91. 220,831 shares of the company traded hands, compared to its average volume of 235,134. Metagenomi, Inc. has a one year low of $1.23 and a one year high of $4.92. The business has a 50-day moving average of $2.00 and a 200 day moving average of $1.78. The stock has a market capitalization of $71.68 million, a price-to-earnings ratio of -0.81 and a beta of -0.17.

Metagenomi (NASDAQ:MGX - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.14. Metagenomi had a negative net margin of 257.99% and a negative return on equity of 37.84%. The business had revenue of $8.51 million for the quarter, compared to analysts' expectations of $7.72 million. As a group, analysts anticipate that Metagenomi, Inc. will post -2.46 earnings per share for the current year.

Wall Street Analyst Weigh In

MGX has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Metagenomi from $16.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Wall Street Zen cut shares of Metagenomi from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price objective on shares of Metagenomi in a research note on Tuesday, August 19th. Finally, Chardan Capital decreased their price objective on shares of Metagenomi from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $10.00.

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.