Metagenomi Inc (NASDAQ: MGX): Can It Make A Huge Gain?

In the last trading session, 1.33 million Metagenomi Inc (NASDAQ:MGX) shares changed hands as the company’s beta touched 0. With the company’s per share price at $4.01 changed hands at -$0.04 or -0.99% during last session, the market valuation stood at $157.46M. MGX’s last price was a discount, traded about -217.71% off its 52-week high of $12.74. The share price had its 52-week low at $1.61, which suggests the last value was 59.85% up since then. When we look at Metagenomi Inc’s average trading volume, we note the 10-day average is 9.16 million shares, with the 3-month average coming to 1.77 million.

Analysts gave the Metagenomi Inc (MGX) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.25. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended MGX as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Metagenomi Inc’s EPS for the current quarter is expected to be -0.58.

Metagenomi Inc (NASDAQ:MGX) trade information

Instantly MGX was in red as seen at the end of in last trading. With action 29.15%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -61.11%, with the 5-day performance at 29.15% in the green. However, in the 30-day time frame, Metagenomi Inc (NASDAQ:MGX) is 120.33% up. Looking at the short shares, we see there were 0.27 million shares sold at short interest cover period of 0.6 days.

The consensus price target for the stock as assigned by Wall Street analysts is 7, meaning bulls need an upside of 42.71% from its current market value. According to analyst projections, MGX’s forecast low is 7 with 7 as the target high. To hit the forecast high, the stock’s price needs a -74.56% plunge from its current level, while the stock would need to soar -74.56% for it to hit the projected low.

Metagenomi Inc (MGX) estimates and forecasts

Data shows that the Metagenomi Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 7.51% over the past 6 months, a 87.73% in annual growth rate that is considerably higher than the industry average of 16.40%. Year-over-year growth is forecast to reach 15.35% up from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of 9.46M. 2 analysts are of the opinion that Metagenomi Inc’s revenue for the current quarter will be 6.25M. The company’s revenue for the corresponding quarters a year ago was 12.4M and 11.16M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -23.70%. The estimates for the next quarter sales put growth at -43.99%.

The 2024 estimates are for Metagenomi Inc earnings to increase by 87.64%.