Metagenomi Inc (NASDAQ: MGX): A Competitive Analysis And Growth Prospects

In the last trading session, 8.52 million shares of the Metagenomi Inc (NASDAQ:MGX) were traded. Most recently the company’s share price was $4.19, and it changed around $0.02 or 0.48% from the last close, which brings the market valuation of the company to $156.81M. MGX currently trades at a discount to its 52-week high of $12.74, offering almost -204.06% off that amount. The share price’s 52-week low was $1.61, which indicates that the current value has risen by an impressive 61.58% since then. We note from Metagenomi Inc’s average daily trading volume that its 10-day average is 6.75 million shares, with the 3-month average coming to 1.37 million.

Metagenomi Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.29. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended MGX as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Metagenomi Inc is expected to report earnings per share of -0.58 for the current quarter.

Metagenomi Inc (NASDAQ:MGX) trade information

Instantly MGX has showed a green trend with a performance of 0.48% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.92 on recent trading dayincreased the stock’s daily price by 14.84%. The company’s shares are currently down -59.36% year-to-date, but still up 106.40% over the last five days. On the other hand, Metagenomi Inc (NASDAQ:MGX) is 107.43% up in the 30-day period. We can see from the shorts that 0.27 million shares have been sold at a short interest cover period of 0.6 day(s).

The consensus price target as assigned by Wall Street analysts is $7, which translates to bulls needing to increase their stock price by 40.14% from its current value. Analyst projections state that MGX is forecast to be at a low of $7 and a high of $7.

Metagenomi Inc (MGX) estimates and forecasts

Metagenomi Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -34.63 percent over the past six months and at a 87.73% annual growth rate that is well above the industry average of 16.70%. The year-over-year growth rate is expected to be 15.35%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of 9.46M in revenue for the current quarter. 2 analysts expect Metagenomi Inc to make 6.25M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 12.4M and 11.16M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -23.70%. Forecasts for the next quarter put sales growth at -43.99%.