Millennium Management LLC Sells 403,469 Shares of Metagenomi, Inc. (NASDAQ:MGX)

Millennium Management LLC trimmed its holdings in shares of Metagenomi, Inc. (NASDAQ:MGX - Free Report) by 96.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,409 shares of the company's stock after selling 403,469 shares during the period. Millennium Management LLC's holdings in Metagenomi were worth $52,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MGX. SG Americas Securities LLC bought a new stake in Metagenomi in the fourth quarter valued at approximately $43,000. Rhumbline Advisers increased its stake in Metagenomi by 123.3% in the fourth quarter. Rhumbline Advisers now owns 11,998 shares of the company's stock valued at $43,000 after purchasing an additional 6,626 shares in the last quarter. Good Life Advisors LLC bought a new stake in Metagenomi in the fourth quarter valued at approximately $451,000. Bank of New York Mellon Corp bought a new stake in Metagenomi in the fourth quarter valued at approximately $130,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Metagenomi by 344.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,753 shares of the company's stock valued at $237,000 after purchasing an additional 50,974 shares in the last quarter.

Analyst Upgrades and Downgrades

MGX has been the subject of several recent analyst reports. Chardan Capital lowered their target price on shares of Metagenomi from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Wall Street Zen cut shares of Metagenomi from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. HC Wainwright reduced their target price on shares of Metagenomi from $14.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $16.00 target price (down from $20.00) on shares of Metagenomi in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Metagenomi currently has an average rating of "Moderate Buy" and a consensus price target of $13.00.

Metagenomi Stock Performance

NASDAQ MGX traded up $0.02 on Wednesday, reaching $1.48. The company had a trading volume of 329,489 shares, compared to its average volume of 813,109. The firm has a market capitalization of $55.32 million, a price-to-earnings ratio of -0.70 and a beta of -0.33. Metagenomi, Inc. has a 1-year low of $1.23 and a 1-year high of $5.50. The company's fifty day moving average is $1.60 and its 200-day moving average is $2.22.

Metagenomi (NASDAQ:MGX - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.68) earnings per share for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.06). The company had revenue of $4.13 million during the quarter, compared to analyst estimates of $8.75 million. Metagenomi had a negative return on equity of 31.21% and a negative net margin of 172.21%. On average, research analysts forecast that Metagenomi, Inc. will post -2.46 earnings per share for the current year.

Metagenomi Profile

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.