HC Wainwright Cuts Metagenomi (NASDAQ:MGX) Price Target to $7.00

Metagenomi (NASDAQ:MGX) had its price target trimmed by HC Wainwright from $14.00 to $7.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Wells Fargo & Company lowered their price objective 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Metagenomi has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Metagenomi Stock Performance

Shares of NASDAQ MGX opened at $1.41 on Thursday. The business has a fifty day moving average of $2.10 and a two-hundred day moving average of $2.38. Metagenomi has a 52-week low of $1.23 and a 52-week high of $10.50. The stock has a market cap of $52.71 million, a PE ratio of -0.54 and a beta of -0.27.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). The firm had revenue of $9.61 million during the quarter, compared to analyst estimates of $13.18 million. Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%. During the same quarter last year, the firm earned ($20.05) earnings per share. Analysts predict that Metagenomi will post -2.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MGX. Norges Bank bought a new stake in shares of Metagenomi during the fourth quarter worth approximately $1,300,000. Peapod Lane Capital LLC bought a new stake in shares of Metagenomi during the 4th quarter valued at $1,268,000. Geode Capital Management LLC lifted its stake in shares of Metagenomi by 73.8% in the 4th quarter. Geode Capital Management LLC now owns 587,421 shares of the company’s stock valued at $2,121,000 after purchasing an additional 249,390 shares during the period. Northern Trust Corp boosted its position in shares of Metagenomi by 185.6% in the 4th quarter. Northern Trust Corp now owns 223,934 shares of the company’s stock worth $808,000 after purchasing an additional 145,536 shares during the last quarter. Finally, Good Life Advisors LLC acquired a new stake in shares of Metagenomi during the fourth quarter worth $451,000.

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.