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

Metagenomi (NASDAQ:MGX) issued its quarterly earnings results on Monday. The company reported ($0.63) EPS 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%. During the same period in the previous year, the firm earned ($20.05) EPS.

Metagenomi Stock Performance

Shares of NASDAQ:MGX opened at $1.88 on Tuesday. The business has a fifty day moving average of $2.49 and a two-hundred day moving average of $2.51. Metagenomi has a 52-week low of $1.61 and a 52-week high of $11.86.

Analysts Set New Price Targets

Several analysts recently commented on MGX shares. HC Wainwright boosted their price target on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Chardan Capital restated a “buy” rating and issued a $15.00 target price on shares of Metagenomi in a report on Wednesday, November 20th.

Hedge Funds Weigh In On Metagenomi

A hedge fund recently raised its stake in Metagenomi stock. Bank of America Corp DE grew its holdings in Metagenomi, Inc. (NASDAQ:MGX) by 482.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 approximately 0.06% of Metagenomi worth $76,000 as of its most recent filing with the Securities & Exchange Commission.

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.