Metagenomi (MGX) to Release Quarterly Earnings on Wednesday

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

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.01). The company had revenue of $9.61 million during the quarter, compared to the consensus estimate of $13.18 million. Metagenomi had a negative return on equity of 43.23% and a negative net margin of 134.27%. During the same period last year, the business earned ($20.05) EPS. 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 %

Shares of NASDAQ:MGX opened at $1.65 on Tuesday. The stock has a 50 day moving average of $2.34 and a 200 day moving average of $2.47. The company has a market cap of $61.68 million and a PE ratio of -0.63. Metagenomi has a 12-month low of $1.61 and a 12-month high of $11.86.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Metagenomi

A hedge fund recently raised its stake in Metagenomi stock. Bank of America Corp DE raised its stake in Metagenomi, Inc. (NASDAQ:MGX) by 482.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 approximately 0.06% of Metagenomi worth $76,000 as of its most recent SEC filing.

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.