Metagenomi (MGX) to Release Quarterly Earnings on Wednesday

Metagenomi (NASDAQ:MGX) will likely be posting its quarterly earnings results before the market opens on Wednesday, March 26th. Analysts expect Metagenomi to post earnings of ($0.62) per share for the quarter.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.01). The business had revenue of $9.61 million during the quarter, compared to the consensus estimate 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 last year, the company posted ($20.05) earnings per share. On average, analysts expect Metagenomi to post $-2 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Metagenomi Trading Up 0.6 %

Metagenomi stock opened at $1.65 on Tuesday. Metagenomi has a 12 month low of $1.61 and a 12 month high of $11.86. The stock has a fifty day simple moving average of $2.34 and a two-hundred day simple moving average of $2.47. The firm has a market cap of $61.68 million and a price-to-earnings ratio of -0.63.

Institutional Investors Weigh In On Metagenomi

A hedge fund recently raised its stake in Metagenomi stock. Bank of America Corp DE boosted its holdings in shares of Metagenomi, Inc. (NASDAQ:MGX) by 482.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,113 shares of the company’s stock after buying an additional 17,491 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of Metagenomi worth $76,000 at the end of the most recent quarter.

Analyst Upgrades and Downgrades

MGX has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on Metagenomi from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. HC Wainwright lifted their price target on shares of Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Metagenomi has an average rating of “Moderate Buy” and a consensus target price of $14.40.

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.