Metagenomi (NASDAQ:MGX) Releases Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Metagenomi (NASDAQ:MGX) announced its quarterly earnings results on Monday. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.18), FiscalAI reports. The business had revenue of ($0.26) million during the quarter, compared to analysts’ expectations of $3.01 million. Metagenomi had a negative return on equity of 51.23% and a negative net margin of 384.61%.

Metagenomi Price Performance

Shares of NASDAQ:MGX remained flat at $1.23 on Monday. 151,508 shares of the stock traded hands, compared to its average volume of 207,514. The stock has a fifty day moving average price of $1.24 and a 200 day moving average price of $1.38. The stock has a market cap of $46.31 million, a price-to-earnings ratio of -0.53 and a beta of 0.66. Metagenomi has a 1-year low of $1.13 and a 1-year high of $3.95.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Chardan Capital assumed coverage on shares of Metagenomi in a research report on Tuesday, July 7th. They set a “buy” rating and a $5.00 price target for the company. Wall Street Zen raised shares of Metagenomi from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th. Finally, Weiss Ratings lowered shares of Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Institutional Trading of Metagenomi

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings in Metagenomi by 276.3% during the fourth quarter. Renaissance Technologies LLC now owns 628,400 shares of the company’s stock worth $1,018,000 after buying an additional 461,400 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Metagenomi by 341.6% in the fourth quarter. Jane Street Group LLC now owns 433,859 shares of the company’s stock worth $703,000 after buying an additional 335,604 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Metagenomi by 102.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 395,800 shares of the company’s stock worth $641,000 after purchasing an additional 200,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Metagenomi by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 305,908 shares of the company’s stock worth $496,000 after purchasing an additional 14,018 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Metagenomi during the 2nd quarter worth approximately $373,000.

Metagenomi Company Profile

Metagenomi, Inc (NASDAQ: MGX) is a biotechnology company that specializes in the discovery and engineering of novel proteins and enzymes using metagenomics and CRISPR-based genome editing. The company’s proprietary platform integrates vast environmental DNA libraries with advanced machine learning and high-throughput screening to identify, optimize and commercialize enzymes for industrial, agricultural and pharmaceutical applications. By tapping into genetic diversity found in nature, Metagenomi aims to accelerate the development of tailored biocatalysts that improve process efficiency, reduce costs and support sustainability initiatives.

Metagenomi’s technology offerings include custom enzyme discovery services, protein engineering tools and licensing of optimized biocatalysts to partners across multiple sectors.