Metagenomi Inc. (NASDAQ: MGX)’s stock price has dropped by -6.19 in relation to previous closing price of 2.26. Nevertheless, the company has seen a loss of -22.91% in its stock price over the last five trading days. accesswire.com reported 2024-09-24 that LOS ANGELES, CA / ACCESSWIRE / September 24, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Metagenomi, Inc. (“Metagenomi” or “the Company”) (NASDAQ:MGX) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Is It Worth Investing in Metagenomi Inc. (NASDAQ: MGX) Right Now?
Analysts have varying opinions on the stock, with 5 analysts rating it as a “buy,” 1 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for MGX is 18.54M and currently, short sellers hold a 1.17% of that float. On September 25, 2024, MGX’s average trading volume was 121.35K shares.
MGX’s Market Performance
MGX stock saw a decrease of -22.91% in the past week, with a monthly decline of -34.16% and a quarterly a decrease of -43.16%. The volatility ratio for the week is 11.08%, and the volatility levels for the last 30 days are 9.43% for Metagenomi Inc. (MGX). The simple moving average for the past 20 days is -24.29% for MGX’s stock, with a -68.05% simple moving average for the past 200 days.
Analysts’ Opinion of MGX
Many brokerage firms have already submitted their reports for MGX stocks, with H.C. Wainwright repeating the rating for MGX by listing it as a “Buy.” The predicted price for MGX in the upcoming period, according to H.C. Wainwright is $10 based on the research report published on May 07, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see MGX reach a price target of $6, previously predicting the price at $16. The rating they have provided for MGX stocks is “Neutral” according to the report published on May 02nd, 2024.
Wells Fargo gave a rating of “Overweight” to MGX, setting the target price at $25 in the report published on March 05th of the current year.
MGX Trading at -38.22% from the 50-Day Moving Average
After a stumble in the market that brought MGX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -83.36% of loss for the given period.
Volatility was left at 9.43%, however, over the last 30 days, the volatility rate increased by 11.08%, as shares sank -34.77% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -57.00% lower at present.
During the last 5 trading sessions, MGX fell by -22.91%, in comparison to the 20-day moving average, which settled at $2.74. In addition, Metagenomi Inc. saw -79.44% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MGX starting from Wapnick Pamela, who sale 6,265 shares at the price of $2.88 back on Sep 05 ’24. After this action, Wapnick Pamela now owns 63,051 shares of Metagenomi Inc., valued at $18,043 using the latest closing price.
Novo Holdings A/S, the 10% Owner of Metagenomi Inc., purchase 800,000 shares at $15.00 during a trade that took place back on Feb 13 ’24, which means that Novo Holdings A/S is holding 1,739,175 shares at $12,000,000 based on the most recent closing price.
Stock Fundamentals for MGX
Current profitability levels for the company are sitting at:
- -1.58 for the present operating margin
- 0.91 for the gross margin
The net margin for Metagenomi Inc. stands at -1.34. The total capital return value is set at -0.27.
Based on Metagenomi Inc. (MGX), the company’s capital structure generated 0.15 points at debt to capital in total, while cash flow to debt ratio is standing at -2.1.
Currently, EBITDA for the company is -58.89 million with net debt to EBITDA at 0.17. When we switch over and look at the enterprise to sales, we see a ratio of 1.18. The receivables turnover for the company is 18.35for trailing twelve months and the total asset turnover is 0.14. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.82.
Conclusion
To wrap up, the performance of Metagenomi Inc. (MGX) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
