Research Analysts Offer Predictions for Metagenomi, Inc.'s FY2024 Earnings (NASDAQ:MGX)

Metagenomi, Inc. (NASDAQ:MGX - Free Report) - Equities researchers at Chardan Capital issued their FY2024 earnings estimates for Metagenomi in a research report issued on Monday, April 1st. Chardan Capital analyst G. Livshits expects that the company will post earnings of ($2.44) per share for the year. Chardan Capital has a "Buy" rating and a $21.00 price objective on the stock. The consensus estimate for Metagenomi's current full-year earnings is ($2.93) per share. Chardan Capital also issued estimates for Metagenomi's FY2025 earnings at ($1.71) EPS.

A number of other equities analysts have also weighed in on the stock. TD Cowen initiated coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They set an "outperform" rating on the stock. BMO Capital Markets initiated coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They set an "outperform" rating and a $22.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They set an "overweight" rating and a $16.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They set a "buy" rating and a $23.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They set an "overweight" rating and a $25.00 price target on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Metagenomi presently has an average rating of "Buy" and an average target price of $21.40.

Metagenomi Price Performance

Shares of MGX stock traded down $0.40 on Thursday, reaching $10.09. 73,173 shares of the company were exchanged, compared to its average volume of 191,932. Metagenomi has a 1 year low of $9.74 and a 1 year high of $12.74.

Insider Buying and Selling at Metagenomi

In related news, major shareholder Holdings A/S Novo bought 100,000 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $10.25 per share, with a total value of $1,025,000.00. Following the transaction, the insider now directly owns 100,000 shares of the company's stock, valued at approximately $1,025,000. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

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.