Metagenomi, Inc. (NASDAQ:MGX) CEO Sells $18,873.75 in Stock

Metagenomi, Inc. (NASDAQ:MGX - Get Free Report) CEO Brian C. Thomas sold 10,785 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1.75, for a total value of $18,873.75. Following the transaction, the chief executive officer now directly owns 2,517,491 shares in the company, valued at approximately $4,405,609.25. This represents a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Metagenomi Price Performance

MGX stock traded down $0.04 during midday trading on Thursday, hitting $1.45. 575,596 shares of the stock traded hands, compared to its average volume of 806,122. Metagenomi, Inc. has a 1-year low of $1.23 and a 1-year high of $6.59. The stock's fifty day simple moving average is $1.60 and its 200-day simple moving average is $2.23. The firm has a market cap of $54.20 million, a P/E ratio of -0.69 and a beta of -0.33.

Metagenomi (NASDAQ:MGX - Get Free Report) last posted 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 return on equity of 43.23% and a negative net margin of 134.27%. The company had revenue of $4.13 million for the quarter, compared to analyst estimates of $8.75 million. On average, research analysts predict that Metagenomi, Inc. will post -2.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MGX. AQR Capital Management LLC purchased a new position in Metagenomi during the 1st quarter worth $119,000. Nuveen LLC purchased a new stake in Metagenomi in the 1st quarter worth approximately $86,000. Virtu Financial LLC acquired a new position in Metagenomi in the first quarter valued at $43,000. Bank of New York Mellon Corp lifted its holdings in shares of Metagenomi by 39.6% during the 1st quarter. Bank of New York Mellon Corp now owns 50,387 shares of the company's stock worth $69,000 after acquiring an additional 14,296 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Metagenomi during the 4th quarter worth $92,000.

Analyst Upgrades and Downgrades

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

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.