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

Metagenomi (NASDAQ:MGXGet Free Report) released its quarterly earnings results 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%. During the same period in the previous year, the business posted ($20.05) EPS.

Metagenomi Stock Performance

Shares of MGX stock opened at $1.88 on Tuesday. Metagenomi has a fifty-two week low of $1.61 and a fifty-two week high of $11.86. The stock’s 50-day simple moving average is $2.49 and its 200-day simple moving average is $2.51.

Institutional Investors Weigh In On Metagenomi

A hedge fund recently raised its stake in Metagenomi stock. Bank of America Corp DE increased its position in shares of Metagenomi, Inc. (NASDAQ:MGXFree Report) by 482.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,113 shares of the company’s stock after purchasing an additional 17,491 shares during the quarter. Bank of America Corp DE owned 0.06% of Metagenomi worth $76,000 as of its most recent SEC filing.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. HC Wainwright increased their target price on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Chardan Capital restated a “buy” rating and set a $15.00 price target on shares of Metagenomi in a research note on Wednesday, November 20th.

Check Out Our Latest Report on Metagenomi

About Metagenomi

(Get Free Report)

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.

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