Metagenomi, Inc. (NASDAQ:MGX) Sees Large Decrease in Short Interest
by Sarita Garza · The Markets DailyMetagenomi, Inc. (NASDAQ:MGX – Get Free Report) was the recipient of a large decline in short interest in February. As of February 13th, there was short interest totaling 1,982,687 shares, a decline of 18.2% from the January 29th total of 2,423,284 shares. Based on an average daily trading volume, of 307,258 shares, the short-interest ratio is currently 6.5 days. Approximately 6.4% of the shares of the company are sold short. Approximately 6.4% of the shares of the company are sold short. Based on an average daily trading volume, of 307,258 shares, the short-interest ratio is currently 6.5 days.
Metagenomi Trading Down 1.3%
Shares of MGX stock traded down $0.02 on Tuesday, reaching $1.51. The company’s stock had a trading volume of 170,969 shares, compared to its average volume of 251,785. The stock’s fifty day simple moving average is $1.60 and its 200-day simple moving average is $1.94. Metagenomi has a 1 year low of $1.23 and a 1 year high of $3.95. The company has a market capitalization of $56.70 million, a price-to-earnings ratio of -0.63 and a beta of 0.50.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Metagenomi in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.00.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in MGX. Pura Vida Investments LLC increased its stake in Metagenomi by 260.1% during the second quarter. Pura Vida Investments LLC now owns 952,134 shares of the company’s stock worth $1,409,000 after acquiring an additional 687,743 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Metagenomi by 276.3% during the 4th quarter. Renaissance Technologies LLC now owns 628,400 shares of the company’s stock valued at $1,018,000 after buying an additional 461,400 shares during the period. Jane Street Group LLC lifted its position in Metagenomi by 341.6% in the fourth quarter. Jane Street Group LLC now owns 433,859 shares of the company’s stock worth $703,000 after buying an additional 335,604 shares during the last quarter. Norges Bank purchased a new position in Metagenomi during the second quarter worth $373,000. Finally, Bridgeway Capital Management LLC increased its position in Metagenomi by 102.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 395,800 shares of the company’s stock valued at $641,000 after acquiring an additional 200,000 shares during the last quarter.
Metagenomi Company Profile
Metagenomi, Inc (NASDAQ: MGX) is a biotechnology company that specializes in the discovery and engineering of novel proteins and enzymes using metagenomics and CRISPR-based genome editing. The company’s proprietary platform integrates vast environmental DNA libraries with advanced machine learning and high-throughput screening to identify, optimize and commercialize enzymes for industrial, agricultural and pharmaceutical applications. By tapping into genetic diversity found in nature, Metagenomi aims to accelerate the development of tailored biocatalysts that improve process efficiency, reduce costs and support sustainability initiatives.
Metagenomi’s technology offerings include custom enzyme discovery services, protein engineering tools and licensing of optimized biocatalysts to partners across multiple sectors.