Metagenomi (NASDAQ:MGX) Announces Earnings Results, Misses Estimates By $0.01 EPS

Metagenomi (NASDAQ:MGX) announced its quarterly earnings data on Monday. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.01), Zacks reports. The business had revenue of $9.61 million for the quarter, compared to analysts’ expectations of $13.18 million. Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%. During the same period in the prior year, the company posted ($20.05) EPS.

Metagenomi Stock Down 8.0 %

NASDAQ MGX opened at $1.73 on Wednesday. The stock has a 50-day moving average of $2.46 and a two-hundred day moving average of $2.50. Metagenomi has a 1-year low of $1.61 and a 1-year high of $11.86.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MGX shares. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of Metagenomi in a research note on Wednesday, November 20th. HC Wainwright lifted their target price on Metagenomi from $7.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company decreased their price target on Metagenomi from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Metagenomi presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.40.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Metagenomi stock. Bank of America Corp DE boosted its position in Metagenomi, Inc. (NASDAQ:MGX) by 482.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,113 shares of the company’s stock after acquiring an additional 17,491 shares during the quarter. Bank of America Corp DE owned 0.06% of Metagenomi worth $76,000 at the end of the most recent quarter.

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.