What is HC Wainwright's Forecast for Metagenomi Q4 Earnings?

Metagenomi, Inc. (NASDAQ:MGX - Free Report) - Equities research analysts at HC Wainwright raised their Q4 2024 earnings estimates for Metagenomi in a research report issued on Thursday, November 21st. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings of ($0.52) per share for the quarter, up from their prior estimate of ($0.69). HC Wainwright currently has a "Buy" rating and a $7.00 price target on the stock. The consensus estimate for Metagenomi's current full-year earnings is ($2.68) per share. HC Wainwright also issued estimates for Metagenomi's Q1 2025 earnings at ($0.56) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.65) EPS, Q4 2025 earnings at ($0.69) EPS and FY2025 earnings at ($2.48) EPS.

A number of other research analysts have also issued reports on MGX. Chardan Capital reiterated a "buy" rating and issued a $15.00 target price on shares of Metagenomi in a research note on Wednesday, November 20th. BMO Capital Markets dropped their target price on shares of Metagenomi from $22.00 to $17.00 and set an "outperform" rating on the stock in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Metagenomi has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.

Metagenomi Stock Up 6.3 %

Shares of MGX traded up $0.12 during midday trading on Monday, reaching $2.01. The stock had a trading volume of 752,662 shares, compared to its average volume of 192,432. Metagenomi has a 52 week low of $1.61 and a 52 week high of $12.74. The firm's 50 day moving average price is $2.06 and its 200-day moving average price is $3.67.

Hedge Funds Weigh In On Metagenomi

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers acquired a new stake in Metagenomi during the 2nd quarter worth $26,000. BNP Paribas Financial Markets raised its position in shares of Metagenomi by 130.9% during the third 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 during the period. Virtu Financial LLC bought a new position in shares of Metagenomi during the 3rd quarter valued at about $33,000. XTX Topco Ltd acquired a new position in shares of Metagenomi in the 2nd quarter valued at approximately $66,000. Finally, Resolute Advisors LLC increased its stake in Metagenomi by 165.0% during the 2nd quarter. Resolute Advisors LLC now owns 26,500 shares of the company's stock worth $108,000 after purchasing an additional 16,500 shares in the last quarter.

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.