Insider Selling: Metagenomi, Inc. (NASDAQ:MGX) CFO Sells 6,265 Shares of Stock

Metagenomi, Inc. (NASDAQ:MGX) CFO Pamela Wapnick sold 6,265 shares of Metagenomi stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $2.88, for a total transaction of $18,043.20. Following the completion of the transaction, the chief financial officer now directly owns 63,051 shares of the company’s stock, valued at $181,586.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Metagenomi Price Performance

MGX opened at $2.72 on Friday. The company’s 50 day moving average is $3.81 and its 200 day moving average is $6.76. Metagenomi, Inc. has a 12-month low of $2.63 and a 12-month high of $12.74.

Metagenomi (NASDAQ:MGX) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.30. The business had revenue of $20.01 million for the quarter, compared to analysts’ expectations of $14.80 million. Equities analysts forecast that Metagenomi, Inc. will post -3.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MGX shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Metagenomi in a research report on Friday. Chardan Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of Metagenomi in a report on Thursday. Finally, BMO Capital Markets lowered their target price on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers purchased a new stake in Metagenomi in the 2nd quarter worth $26,000. Resolute Advisors LLC purchased a new stake in Metagenomi during the 1st quarter valued at approximately $106,000. XTX Topco Ltd bought a new stake in shares of Metagenomi during the second quarter valued at approximately $66,000. Novo Holdings A S lifted its holdings in shares of Metagenomi by 3.5% in the second quarter. Novo Holdings A S now owns 1,800,000 shares of the company’s stock worth $7,344,000 after buying an additional 60,825 shares in the last quarter. Finally, Altitude Crest Partners Inc. bought a new position in shares of Metagenomi during the first quarter worth $1,407,000.

About Metagenomi

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.