Metagenomi (NASDAQ:MGX) Posts Quarterly 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 for the quarter, missing the consensus estimate of ($0.62) by ($0.01), Zacks reports. Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%.

Metagenomi Trading Down 3.1 %

MGX stock traded down $0.06 during trading on Monday, reaching $1.88. The stock had a trading volume of 440,558 shares, compared to its average volume of 728,899. Metagenomi has a one year low of $1.61 and a one year high of $11.86. The company’s 50 day moving average is $2.52 and its two-hundred day moving average is $2.52.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MGX shares. HC Wainwright boosted their target price on shares of Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Metagenomi in a research report on Wednesday, November 20th.

Institutional Investors Weigh In On Metagenomi

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

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.