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

Metagenomi (NASDAQ:MGX) released its quarterly earnings data 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 return on equity of 43.23% and a negative net margin of 134.27%.

Metagenomi Price Performance

Shares of NASDAQ:MGX traded down $0.06 during midday trading on Monday, hitting $1.88. 445,678 shares of the stock were exchanged, compared to its average volume of 728,919. Metagenomi has a 52-week low of $1.61 and a 52-week high of $11.86. The business’s fifty day simple moving average is $2.52 and its two-hundred day simple moving average is $2.52.

Hedge Funds Weigh In On Metagenomi

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

Wall Street Analysts Forecast Growth

MGX has been the subject of several research reports. Chardan Capital reissued a “buy” rating and set a $15.00 price objective on shares of Metagenomi in a research note on Wednesday, November 20th. HC Wainwright raised their target price on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

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.