Metagenomi's (MGX) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Metagenomi's stock has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, highlighting ongoing concerns about the company's performance.
• Brokerages have mixed opinions on Metagenomi, with Chardan Capital lowering its target price from $12.00 to $11.00 while other firms maintain Buy ratings.
• Metagenomi reported a quarterly loss of ($0.54) EPS, beating estimates, and achieved revenue of $8.51 million, surpassing analyst expectations.

Metagenomi (NASDAQ:MGX - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other brokerages also recently commented on MGX. Chardan Capital reduced their target price on Metagenomi from $12.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 15th. Wells Fargo & Company reduced their price objective on shares of Metagenomi from $16.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Finally, HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Metagenomi in a report on Tuesday, August 19th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $10.00.

Metagenomi Price Performance

Shares of NASDAQ:MGX opened at $3.19 on Wednesday. The stock has a market cap of $119.72 million, a price-to-earnings ratio of -1.35 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's 50 day moving average price is $2.07 and its 200 day moving average price is $1.82.

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

Institutional Investors Weigh In On Metagenomi

A number of large investors have recently bought and sold shares of MGX. Pura Vida Investments LLC raised its holdings in Metagenomi by 260.1% during the second quarter. Pura Vida Investments LLC now owns 952,134 shares of the company's stock valued at $1,409,000 after buying an additional 687,743 shares in the last quarter. Peapod Lane Capital LLC lifted its position in Metagenomi by 44.2% during the 2nd quarter. Peapod Lane Capital LLC now owns 508,109 shares of the company's stock worth $752,000 after acquiring an additional 155,652 shares during the last quarter. Norges Bank bought a new position in shares of Metagenomi in the second quarter worth about $373,000. Good Life Advisors LLC boosted its stake in Metagenomi by 100.0% during the 2nd quarter. Good Life Advisors LLC now owns 200,000 shares of the company's stock valued at $296,000 after purchasing an additional 100,000 shares during the period. Finally, Jane Street Group LLC bought a new position in Metagenomi in the 2nd quarter worth approximately $235,000.

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.

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