Metagenomi (MGX) to Release Quarterly Earnings on Wednesday

Metagenomi (NASDAQ:MGX - Get Free Report) will likely be announcing its earnings results 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 - Get Free Report) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.63) earnings per share for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.01). Metagenomi had a negative return on equity of 43.23% and a negative net margin of 134.27%. The company had revenue of $9.61 million during the quarter, compared to analysts' expectations of $13.18 million. During the same period in the prior year, the business posted ($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 Down 2.4 %

MGX stock traded down $0.04 during mid-day trading on Friday, reaching $1.64. 494,019 shares of the stock traded hands, compared to its average volume of 735,236. Metagenomi has a 52-week low of $1.61 and a 52-week high of $11.86. The stock's fifty day moving average is $2.37 and its 200-day moving average is $2.48. The company has a market cap of $61.31 million and a P/E ratio of -0.63.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MGX. 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. Wells Fargo & Company lowered their target price on Metagenomi from $25.00 to $20.00 and set an "overweight" rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $14.40.

Remove Ads

Institutional Investors Weigh In On Metagenomi

An institutional investor recently raised its position in Metagenomi stock. Bank of America Corp DE boosted its holdings in shares of Metagenomi, Inc. (NASDAQ:MGX - Free Report) by 482.9% in the 4th quarter, according to the company in its most recent 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 about 0.06% of Metagenomi worth $76,000 at the end of the most recent quarter.

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.