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

Millennium Management LLC reduced its position in shares of Metagenomi, Inc. (NASDAQ:MGX - Free Report) by 96.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MGX. Geode Capital Management LLC raised its position 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 worth $2,121,000 after purchasing an additional 249,390 shares during the period. Rhumbline Advisers grew its stake in shares of Metagenomi by 123.3% during the 4th quarter. Rhumbline Advisers now owns 11,998 shares of the company's stock worth $43,000 after acquiring an additional 6,626 shares during the period. Wells Fargo & Company MN boosted its stake in Metagenomi by 54.5% in the 4th quarter. Wells Fargo & Company MN now owns 95,188 shares of the company's stock worth $344,000 after purchasing an additional 33,582 shares during the period. SG Americas Securities LLC bought a new position in Metagenomi in the 4th quarter worth about $43,000. Finally, Voya Investment Management LLC bought a new position in Metagenomi in the 4th quarter worth about $37,000.

Metagenomi Stock Down 1.4%

Shares of NASDAQ MGX traded down $0.02 during trading hours on Friday, reaching $1.43. 590,477 shares of the stock traded hands, compared to its average volume of 811,276. The company has a market capitalization of $53.45 million, a P/E ratio of -0.68 and a beta of -0.33. Metagenomi, Inc. has a 52-week low of $1.23 and a 52-week high of $5.63. The company's 50-day simple moving average is $1.60 and its two-hundred day simple moving average is $2.22.

Metagenomi (NASDAQ:MGX - Get Free Report) last announced its quarterly earnings data 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). Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%. The firm had revenue of $4.13 million for the quarter, compared to analysts' expectations of $8.75 million. As a group, sell-side analysts forecast that Metagenomi, Inc. will post -2.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.