Corebridge Financial Inc. Purchases 10,228 Shares of Metagenomi, Inc. (NASDAQ:MGX)

Corebridge Financial Inc. boosted its stake in shares of Metagenomi, Inc. (NASDAQ:MGX) by 303.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,602 shares of the company’s stock after buying an additional 10,228 shares during the quarter. Corebridge Financial Inc.’s holdings in Metagenomi were worth $49,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in Metagenomi by 123.3% during the fourth quarter. Rhumbline Advisers now owns 11,998 shares of the company’s stock worth $43,000 after buying an additional 6,626 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Metagenomi in the 4th quarter worth $43,000. BNP Paribas Financial Markets boosted its stake in Metagenomi by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock worth $28,000 after purchasing an additional 7,256 shares in the last quarter. Virtu Financial LLC acquired a new position in Metagenomi during the 3rd quarter valued at approximately $33,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in Metagenomi during the 4th quarter worth about $92,000.

Metagenomi Price Performance

MGX opened at $1.57 on Wednesday. The company’s 50 day simple moving average is $1.88 and its two-hundred day simple moving average is $2.33. The firm has a market capitalization of $58.69 million, a price-to-earnings ratio of -0.60 and a beta of -0.27. Metagenomi, Inc. has a 1-year low of $1.23 and a 1-year high of $8.86.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). The business 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 in the prior year, the company posted ($20.05) earnings per share. On average, equities analysts anticipate that Metagenomi, Inc. will post -2.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MGX shares. HC Wainwright reduced their price objective on Metagenomi from $14.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company dropped their price target on shares of Metagenomi from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Metagenomi presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

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.