Metagenomi, Inc. (NASDAQ:MGX) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Metagenomi, Inc. (NASDAQ:MGX - Free Report) by 73.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 587,421 shares of the company's stock after purchasing an additional 249,390 shares during the quarter. Geode Capital Management LLC owned approximately 1.57% of Metagenomi worth $2,121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MGX. Norges Bank acquired a new stake in Metagenomi in the 4th quarter worth approximately $1,300,000. Peapod Lane Capital LLC acquired a new position in shares of Metagenomi in the 4th quarter valued at about $1,268,000. Good Life Advisors LLC acquired a new stake in Metagenomi during the fourth quarter worth about $451,000. Fortitude Advisory Group L.L.C. purchased a new position in Metagenomi during the fourth quarter valued at approximately $273,000. Finally, Spire Wealth Management purchased a new position in Metagenomi during the fourth quarter valued at approximately $267,000.

Wall Street Analyst Weigh In

MGX has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on Metagenomi from $25.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. HC Wainwright decreased their price target 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.

Metagenomi Trading Up 8.1 %

NASDAQ:MGX traded up $0.12 during midday trading on Friday, hitting $1.61. 368,655 shares of the company were exchanged, compared to its average volume of 775,639. Metagenomi, Inc. has a fifty-two week low of $1.23 and a fifty-two week high of $8.17. The company has a market capitalization of $60.19 million, a PE ratio of -0.61 and a beta of -0.27. The company has a fifty day simple moving average of $1.67 and a 200 day simple moving average of $2.30.

Metagenomi (NASDAQ:MGX - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.01). Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%. The business had revenue of $9.61 million during the quarter, compared to analysts' expectations of $13.18 million. During the same quarter last year, the company earned ($20.05) EPS. As a group, equities research analysts expect that Metagenomi, Inc. will post -2.46 EPS for the current year.

Metagenomi Company 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.