Bank of New York Mellon Corp Purchases New Position in Metagenomi, Inc. (NASDAQ:MGX)

Bank of New York Mellon Corp acquired a new position in shares of Metagenomi, Inc. (NASDAQ:MGX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,091 shares of the company’s stock, valued at approximately $130,000.

Several other hedge funds have also recently bought and sold shares of MGX. Rhumbline Advisers grew its holdings in shares of Metagenomi by 123.3% in the 4th quarter. Rhumbline Advisers now owns 11,998 shares of the company’s stock worth $43,000 after purchasing an additional 6,626 shares during the last quarter. SG Americas Securities LLC acquired a new position in Metagenomi in the fourth quarter valued at about $43,000. BNP Paribas Financial Markets grew its stake in 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 buying an additional 7,256 shares during the last quarter. Virtu Financial LLC bought a new stake in Metagenomi during the third quarter worth about $33,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Metagenomi during the third quarter worth approximately $82,000.

Metagenomi Price Performance

MGX opened at $1.48 on Friday. The stock has a market capitalization of $55.33 million and a P/E ratio of -0.56. The company’s 50 day simple moving average is $2.25 and its 200-day simple moving average is $2.43. Metagenomi, Inc. has a one year low of $1.46 and a one year high of $10.94.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). The firm 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 previous year, the business posted ($20.05) earnings per share. As a group, analysts anticipate that Metagenomi, Inc. will post -2.46 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on MGX. Wells Fargo & Company reduced their target price on Metagenomi from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. HC Wainwright boosted their price objective on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $14.40.

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.