Northern Trust Corp Increases Stock Position in Metagenomi, Inc. (NASDAQ:MGX)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Metagenomi by 123.3% in the 4th quarter. Rhumbline Advisers now owns 11,998 shares of the company's stock worth $43,000 after purchasing an additional 6,626 shares during the period. Corebridge Financial Inc. grew its position in shares of Metagenomi by 303.1% during the 4th quarter. Corebridge Financial Inc. now owns 13,602 shares of the company's stock valued at $49,000 after acquiring an additional 10,228 shares during the period. Voya Investment Management LLC bought a new stake in shares of Metagenomi during the 4th quarter valued at $37,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Metagenomi during the 4th quarter valued at $39,000. Finally, SG Americas Securities LLC bought a new stake in shares of Metagenomi during the 4th quarter valued at $43,000.

Analyst Ratings Changes

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

Metagenomi Stock Performance

Shares of Metagenomi stock traded up $0.11 on Monday, hitting $1.81. 229,405 shares of the company traded hands, compared to its average volume of 791,607. The stock has a market capitalization of $67.81 million, a P/E ratio of -0.86 and a beta of -0.65. Metagenomi, Inc. has a 52 week low of $1.23 and a 52 week high of $6.90. The business has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $2.24.

Metagenomi (NASDAQ:MGX - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.06). The company had revenue of $4.13 million for the quarter, compared to the consensus estimate of $8.75 million. Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%. Research analysts expect 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.