Metagenomi, Inc. $MGX Shares Sold by Hhlr Advisors LTD.

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

Several other hedge funds and other institutional investors have also made changes to their positions in MGX. Northern Trust Corp increased its holdings in Metagenomi by 185.6% in the 4th quarter. Northern Trust Corp now owns 223,934 shares of the company's stock valued at $808,000 after purchasing an additional 145,536 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Metagenomi by 811.6% during the fourth quarter. JPMorgan Chase & Co. now owns 73,031 shares of the company's stock worth $264,000 after purchasing an additional 65,020 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Metagenomi in the fourth quarter worth about $228,000. Nuveen LLC purchased a new stake in shares of Metagenomi during the 1st quarter valued at about $86,000. Finally, Barclays PLC lifted its position in Metagenomi by 388.4% during the 4th quarter. Barclays PLC now owns 42,481 shares of the company's stock worth $153,000 after acquiring an additional 33,783 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Metagenomi Trading Down 7.0%

MGX stock opened at $1.74 on Monday. The firm has a 50 day simple moving average of $1.97 and a 200-day simple moving average of $1.80. The company has a market capitalization of $65.31 million, a P/E ratio of -0.74 and a beta of -0.16. Metagenomi, Inc. has a twelve month low of $1.23 and a twelve month high of $4.92.

Metagenomi (NASDAQ:MGX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.54) EPS for the quarter, beating analysts' consensus estimates 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%. On average, research analysts predict that Metagenomi, Inc. will post -2.46 EPS for the current year.

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.

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