Metagenomi (NASDAQ:MGX) Raised to "Hold" at Wall Street Zen

Key Points

• Metagenomi (NASDAQ:MGX) was upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a shift in investor sentiment.
• Current average analyst ratings for Metagenomi suggest a "Moderate Buy" with a target price of $10.00.
• In its latest earnings report, Metagenomi exceeded revenue expectations, reporting $8.51 million compared to analyst estimates of $7.72 million.

Metagenomi (NASDAQ:MGX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

MGX has been the topic of several other reports. Wells Fargo & Company reduced their target price on Metagenomi from $16.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. HC Wainwright reaffirmed a "buy" rating and set a $7.00 target price on shares of Metagenomi in a research report on Tuesday, August 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Metagenomi in a research report on Wednesday, October 8th. Zacks Research raised Metagenomi from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 17th. Finally, Chardan Capital reduced their target price on Metagenomi from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.00.

Metagenomi Trading Up 4.0%

MGX opened at $2.89 on Friday. The firm has a market cap of $108.46 million, a price-to-earnings ratio of -1.22 and a beta of 0.27. Metagenomi has a 12 month low of $1.23 and a 12 month high of $4.92. The stock has a fifty day moving average price of $2.30 and a 200-day moving average price of $1.95.

Metagenomi (NASDAQ:MGX - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.14. Metagenomi had a negative return on equity of 37.84% and a negative net margin of 257.99%.The company had revenue of $8.51 million for the quarter, compared to analyst estimates of $7.72 million. On average, equities research analysts forecast that Metagenomi will post -2.46 EPS for the current year.

Institutional Trading of Metagenomi

Several large investors have recently added to or reduced their stakes in the company. Pura Vida Investments LLC grew its stake in Metagenomi by 260.1% during the 2nd quarter. Pura Vida Investments LLC now owns 952,134 shares of the company's stock valued at $1,409,000 after purchasing an additional 687,743 shares during the last quarter. Peapod Lane Capital LLC boosted its stake in shares of Metagenomi by 44.2% in the second quarter. Peapod Lane Capital LLC now owns 508,109 shares of the company's stock worth $752,000 after buying an additional 155,652 shares during the last quarter. Norges Bank purchased a new stake in shares of Metagenomi in the second quarter worth about $373,000. Good Life Advisors LLC boosted its stake in shares of Metagenomi by 100.0% in the second quarter. Good Life Advisors LLC now owns 200,000 shares of the company's stock worth $296,000 after buying an additional 100,000 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Metagenomi in the second quarter worth about $235,000.

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.

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