Metagenomi (MGX) Projected to Post Earnings on Wednesday

Metagenomi (NASDAQ:MGX) is expected to be issuing its quarterly earnings data 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) last released its earnings results on Monday, March 17th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). The business had revenue of $9.61 million for the quarter, compared to analyst estimates of $13.18 million. Metagenomi had a negative return on equity of 43.23% and a negative net margin of 134.27%. During the same quarter last year, the company earned ($20.05) earnings per share. On average, analysts expect Metagenomi to post $-2 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Metagenomi Stock Down 2.4 %

NASDAQ:MGX opened at $1.64 on Monday. Metagenomi has a 52 week low of $1.61 and a 52 week high of $11.86. The company has a market cap of $61.31 million and a price-to-earnings ratio of -0.63. The company has a fifty day simple moving average of $2.37 and a two-hundred day simple moving average of $2.47.

Wall Street Analyst Weigh In

MGX has been the subject of a number of recent research reports. HC Wainwright lifted their price target on shares of Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on shares of Metagenomi from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Metagenomi presently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Institutional Investors Weigh In On Metagenomi

A hedge fund recently raised its stake in Metagenomi stock. Bank of America Corp DE increased its position in Metagenomi, Inc. (NASDAQ:MGX) by 482.9% in the 4th quarter, according to its most recent filing with the SEC. 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 0.06% of Metagenomi worth $76,000 at the end of the most recent 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.