Metagenomi, Inc. (NASDAQ:MGX) CFO Pamela Wapnick Sells 6,265 Shares

Metagenomi, Inc. (NASDAQ:MGX) CFO Pamela Wapnick sold 6,265 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $2.88, for a total transaction of $18,043.20. Following the sale, the chief financial officer now owns 63,051 shares of the company’s stock, valued at $181,586.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Metagenomi Trading Down 6.2 %

NASDAQ MGX opened at $2.72 on Friday. Metagenomi, Inc. has a fifty-two week low of $2.63 and a fifty-two week high of $12.74. The stock has a 50 day simple moving average of $3.81 and a two-hundred day simple moving average of $6.76.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.30. The business had revenue of $20.01 million during the quarter, compared to analysts’ expectations of $14.80 million. On average, sell-side analysts expect that Metagenomi, Inc. will post -3.04 earnings per share for the current year.

Institutional Investors Weigh In On Metagenomi

Institutional investors and hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. purchased a new stake in Metagenomi in the first quarter worth $18,404,000. Farallon Capital Management LLC bought a new stake in Metagenomi during the first quarter worth about $14,171,000. Hhlr Advisors LTD. purchased a new stake in Metagenomi in the first quarter worth about $8,205,000. Artal Group S.A. purchased a new position in shares of Metagenomi during the first quarter valued at approximately $3,165,000. Finally, Vanguard Group Inc. purchased a new position in shares of Metagenomi during the first quarter valued at approximately $1,894,000.

Wall Street Analyst Weigh In

MGX has been the subject of a number of recent research reports. BMO Capital Markets lowered their target price on Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Metagenomi in a research note on Friday. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Metagenomi in a research note on Thursday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Metagenomi presently has an average rating of “Moderate Buy” and an average target price of $15.50.

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.