Norges Bank Makes New $1.30 Million Investment in Metagenomi, Inc. (NASDAQ:MGX)

Norges Bank acquired a new position in Metagenomi, Inc. (NASDAQ:MGX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 360,202 shares of the company's stock, valued at approximately $1,300,000. Norges Bank owned 0.96% of Metagenomi as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Metagenomi by 811.6% during the fourth quarter. JPMorgan Chase & Co. now owns 73,031 shares of the company's stock worth $264,000 after buying an additional 65,020 shares during the last quarter. Corebridge Financial Inc. increased its position in Metagenomi by 303.1% during the fourth quarter. Corebridge Financial Inc. now owns 13,602 shares of the company's stock worth $49,000 after acquiring an additional 10,228 shares during the period. Sei Investments Co. acquired a new position in Metagenomi during the 4th quarter valued at $100,000. BBR Partners LLC bought a new stake in Metagenomi in the 4th quarter valued at $193,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in Metagenomi in the 4th quarter worth $92,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on MGX. Wells Fargo & Company cut 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. HC Wainwright cut their price target on Metagenomi from $14.00 to $7.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $13.00.

Metagenomi Trading Up 1.0 %

NASDAQ MGX traded up $0.02 on Thursday, reaching $1.50. The company's stock had a trading volume of 105,198 shares, compared to its average volume of 761,095. Metagenomi, Inc. has a 52 week low of $1.23 and a 52 week high of $8.86. The firm has a market cap of $55.89 million, a PE ratio of -0.57 and a beta of -0.27. The business has a 50-day moving average price of $1.86 and a 200 day moving average price of $2.33.

Metagenomi (NASDAQ:MGX - Get Free Report) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.63) earnings per share 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 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. Analysts anticipate that Metagenomi, Inc. will post -2.46 earnings per share for the current fiscal year.

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.