Metagenomi, Inc. (NASDAQ:MGX) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its stake in Metagenomi, Inc. (NASDAQ:MGX - Free Report) by 185.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 223,934 shares of the company's stock after acquiring an additional 145,536 shares during the quarter. Northern Trust Corp owned approximately 0.60% of Metagenomi worth $808,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of Metagenomi by 73.8% during the 4th 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 last quarter. Peapod Lane Capital LLC acquired a new position in Metagenomi in the fourth quarter valued at approximately $1,268,000. Rhumbline Advisers boosted its holdings in shares of 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 acquiring an additional 6,626 shares during the period. Wells Fargo & Company MN lifted 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 worth $344,000 after purchasing an additional 33,582 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Metagenomi during the fourth quarter worth $43,000.

Metagenomi Trading Up 0.6%

Shares of MGX stock traded up $0.01 during mid-day trading on Tuesday, reaching $1.77. The stock had a trading volume of 469,006 shares, compared to its average volume of 792,721. The company has a market cap of $66.16 million, a P/E ratio of -0.84 and a beta of -0.65. The business has a 50-day simple moving average of $1.57 and a 200 day simple moving average of $2.24. Metagenomi, Inc. has a 12-month low of $1.23 and a 12-month high of $6.90.

Metagenomi (NASDAQ:MGX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate 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 business had revenue of $4.13 million during the quarter, compared to analysts' expectations of $8.75 million. Research analysts anticipate that Metagenomi, Inc. will post -2.46 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.