Geode Capital Management LLC Raises Stake in Metagenomi, Inc. (NASDAQ:MGX)

Geode Capital Management LLC increased its holdings in Metagenomi, Inc. (NASDAQ:MGX - Free Report) by 73.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 587,421 shares of the company's stock after buying an additional 249,390 shares during the quarter. Geode Capital Management LLC owned 1.57% of Metagenomi worth $2,121,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MGX. Rhumbline Advisers increased its stake in shares of Metagenomi by 123.3% in the fourth quarter. Rhumbline Advisers now owns 11,998 shares of the company's stock worth $43,000 after purchasing an additional 6,626 shares in the last quarter. Corebridge Financial Inc. boosted its holdings in Metagenomi by 303.1% in the 4th quarter. Corebridge Financial Inc. now owns 13,602 shares of the company's stock worth $49,000 after buying an additional 10,228 shares during the period. SG Americas Securities LLC bought a new position in Metagenomi in the 4th quarter worth $43,000. Virtu Financial LLC purchased a new stake in Metagenomi in the 3rd quarter worth $33,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in Metagenomi during the fourth quarter valued at about $92,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MGX shares. HC Wainwright cut their target price on Metagenomi from $14.00 to $7.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Wells Fargo & Company cut their price objective on shares of Metagenomi from $25.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th.

Metagenomi Trading Down 4.0 %

Shares of NASDAQ:MGX traded down $0.07 during mid-day trading on Monday, reaching $1.55. The stock had a trading volume of 54,514 shares, compared to its average volume of 771,127. The business's 50 day moving average price is $1.67 and its 200 day moving average price is $2.30. Metagenomi, Inc. has a 1 year low of $1.23 and a 1 year high of $8.17. The company has a market cap of $57.76 million, a P/E ratio of -0.59 and a beta of -0.65.

Metagenomi (NASDAQ:MGX - Get Free Report) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.01). The firm had revenue of $9.61 million for the quarter, compared to analysts' expectations of $13.18 million. Metagenomi had a negative return on equity of 43.23% and a negative net margin of 134.27%. During the same period last year, the company earned ($20.05) earnings per share. Analysts predict that Metagenomi, Inc. will post -2.46 earnings per share for the current fiscal 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.