Diametric Capital LP Makes New Investment in Metagenomi, Inc. (NASDAQ:MGX)

Diametric Capital LP purchased a new position in Metagenomi, Inc. (NASDAQ:MGX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,615 shares of the company’s stock, valued at approximately $150,000. Diametric Capital LP owned approximately 0.11% of Metagenomi as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BNP Paribas Financial Markets increased its stake 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 buying an additional 7,256 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Metagenomi in the 3rd quarter valued at $82,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Metagenomi by 209.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 136,624 shares of the company’s stock worth $296,000 after purchasing an additional 92,468 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Metagenomi by 105.8% during the third quarter. Geode Capital Management LLC now owns 338,031 shares of the company’s stock worth $734,000 after purchasing an additional 173,796 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Metagenomi in the third quarter valued at $33,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MGX. Wells Fargo & Company decreased their price target on Metagenomi from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. HC Wainwright boosted their target price on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.40.

Metagenomi Stock Performance

Shares of MGX stock opened at $1.33 on Thursday. Metagenomi, Inc. has a 1 year low of $1.29 and a 1 year high of $10.94. The firm has a market cap of $49.72 million and a price-to-earnings ratio of -0.51. The stock’s 50-day moving average is $2.16 and its two-hundred day moving average is $2.40.

Metagenomi (NASDAQ:MGX) last released its quarterly 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). Metagenomi had a negative return on equity of 43.23% and a negative net margin of 134.27%. The firm had revenue of $9.61 million for the quarter, compared to analysts’ expectations of $13.18 million. During the same quarter in the prior year, the business earned ($20.05) EPS. As a group, research analysts predict that Metagenomi, Inc. will post -2.46 EPS for the current year.

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.