The stock of Metagenomi Inc. (MGX) has gone up by 1.01% for the week, with a -3.83% drop in the past month and a -55.03% drop in the past quarter. The volatility ratio for the week is 4.58%, and the volatility levels for the past 30 days are 6.72% for MGX. The simple moving average for the last 20 days is 0.50% for MGX stock, with a simple moving average of -66.73% for the last 200 days.
Is It Worth Investing in Metagenomi Inc. (NASDAQ: MGX) Right Now?
There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 1 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The public float for MGX is 18.54M, and at present, short sellers hold a 1.47% of that float. The average trading volume of MGX on October 24, 2024 was 196.31K shares.
MGX) stock’s latest price update
Metagenomi Inc. (NASDAQ: MGX)’s stock price has increased by 5.24 compared to its previous closing price of 1.91. However, the company has seen a 1.01% increase in its stock price over the last five trading sessions. globenewswire.com reported 2024-10-24 that Metagenomi Adenine Base Editors (ABEs) demonstrated over 95% genome targetability Simultaneous ABE triplex editing resulted in over 95% protein knockdown in primary T-cells ABE demonstrated highly specific on-target deamination with no detectable translocations and no significant genomic composition differences ABE triplex editing had no adverse effects on cell viability, expansion, or other measures of cell health EMERYVILLE, Calif., Oct. 24, 2024 (GLOBE NEWSWIRE) — Metagenomi, Inc. (Nasdaq: MGX), a precision genetic medicines company committed to developing curative therapeutics for patients using its proprietary gene editing toolbox, today presented a poster (P0533 Poster Session III) titled “Efficient and specific genome editing with metagenomics-derived base editor for human therapeutic applications” at the European Society of Gene and Cell Therapy (ESGCT) 31st Annual Congress in Rome, Italy.
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 -18.98% 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 -84.22% of loss for the given period.
Volatility was left at 6.72%, however, over the last 30 days, the volatility rate increased by 4.58%, as shares sank -1.47% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -35.16% lower at present.
During the last 5 trading sessions, MGX rose by +1.01%, in comparison to the 20-day moving average, which settled at $2.0000. In addition, Metagenomi Inc. saw -80.50% 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 1.1. 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
In summary, Metagenomi Inc. (MGX) has had a bad performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. 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.
