Metagenomi Inc reports results for the quarter ended June 30 - Earnings Summary

• Metagenomi Inc MGX.OQ reported a quarterly adjusted loss of 54 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of -29 cents. The mean expectation of six analysts for the quarter was for a loss of 62 cents per share. Wall Street expected results to range from -79 cents to -51 cents per share.

• Revenue fell 57.5% to $8.51 million from a year ago; analysts expected $7.72 million.

• Metagenomi Inc's reported EPS for the quarter was a loss of 54 cents​.

• The company reported a quarterly loss of $19.91 million.

• Metagenomi Inc shares had risen by 23.6% this quarter and lost 49.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 6.2% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the biotechnology & medical research peer group is also "buy"

• Wall Street's median 12-month price target for Metagenomi Inc is $10.00, about 81.7% above its last closing price of $1.83

This summary was machine generated from LSEG data August 12 at 08:56 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)