Metagenomi, Inc. (MGX) AI Stock Analysis

• Market Cap: $54.93M
• Dividend Yield: N/A
• Average Volume (3M): 883.52K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.25
• Revenue Growth: -43.88%
• EPS Growth: 4.73%
• Country: US
• Employees: 202
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.59
• Shares Outstanding: 37,620,530
• 10 Day Avg. Volume: 1,405,864
• 30 Day Avg. Volume: 883,524
• PEG Ratio: -0.05
• Price to Book (P/B): 0.38
• Price to Sales (P/S): 2.39
• P/FCF Ratio: -0.67
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: 2.13
• Enterprise Value/Gross Profit: 680.42
• Enterprise Value/Ebitda: -0.61
• 1Y Price Target: $9.50
• Price Target Upside: 541.89% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -2.09
• Revenue Forecast (FY): $26.23M

• Rating: 47 Neutral
• Price Target: $1.50 ▲(1.35% Upside)
• Action: Reiterated Date: 03/11/26
• Date: Action: Reiterated 03/11/26

Score is held back primarily by persistent large losses and significant cash burn with declining equity, indicating elevated funding and execution risk. Technicals are neutral-to-mixed (short-term improvement but long-term downtrend), while valuation is difficult to support given negative earnings and no dividend. Corporate updates are constructive, especially the extended runway and pipeline milestones, but do not offset weak financial performance.

Positive Factors

Proprietary platform & IP

A differentiated metagenomics platform that discovers novel genome-editing enzymes is a durable competitive asset. It can generate a pipeline of engineered tools, underpin licensing revenue, and enable sustained partnerships, supporting long-term R&D optionality and commercial leverage.

Preclinical validation (MGX-001)

Demonstrated curative and durable FVIII activity with no identifiable off-targets in non-human primates plus a completed pre-IND meeting materially derisks lead program. These technical and regulatory milestones strengthen the pathway to clinic and improve partner and investor confidence over the medium term.

Extended cash runway & reprioritization

A formal capital allocation revision that extends runway to Q4 2027 provides durable relief from near-term financing pressure, allowing the company to pursue regulatory submissions and a planned first-in-human study in 2027. This reduces immediate dilution risk and supports milestone execution.

Negative Factors

Heavy cash burn

Sustained negative operating and free cash flow of roughly -$89M in 2025 indicates the company is consuming significant capital to fund R&D. This persistent burn raises medium-term financing needs and execution risk, making progress dependent on future fundraising or sizable partnership income.

Declining revenue & deep losses

An 18% revenue drop in 2025 combined with a net margin around -349% shows the business has not yet converted R&D into sustainable commercial returns. Persistent large losses constrain reinvestment capacity and heighten reliance on external funding or transactional licensing to sustain operations.

Shrinking equity & negative ROE

A significant drop in shareholders' equity and a roughly -55% ROE reflect ongoing value erosion. Even with moderate reported debt, declining equity magnifies financial vulnerability, limits cushion for further losses, and increases the potential for dilutive capital raises if milestones slip.

Metagenomi, Inc. Business Overview & Revenue Model

Company Description

Metagenomi, Inc., a gene editing biotechnology company, develops therapeutics for patients using metagenomics-derived genome editing toolbox in the United States. The company's genome editing toolbox includes programmable nucleases, base editors, and RNA and DNA-mediated integration systems, such as prime editing systems and clustered regularly interspaced short palindromic repeat-associated transposases. It has a strategic collaboration and license agreement with ModernaTX, Inc. focusing on new genome editing system for in vivo human therapeutic applications; a development, option, and license agreement with Affini-T Therapeutics, Inc. to develop and commercialize gene edited T-cell receptor-based therapeutic products in the field of treatment, prevention, or diagnosis of human cancer; and a collaboration and license agreement with Ionis Pharmaceuticals, Inc. to research, develop, and commercialize investigational medicines using genome editing technologies. The company was incorporated in 2016 and is based in Emeryville, California.

How the Company Makes Money

Metagenomi’s revenue model is primarily based on research collaborations and licensing/technology access arrangements rather than product sales, as the company is in a development stage and does not have marketed therapeutics. Under these arrangements, the company can earn (1) upfront payments for granting partners access to its genome-editing platform and intellectual property, (2) research and development funding or reimbursement for work performed under collaboration agreements, and (3) potential downstream milestone payments and royalties if partnered programs progress through development, achieve regulatory or commercial milestones, and generate sales. Specific partner names, exact deal terms, and the breakdown of revenue by stream are null.

Metagenomi, Inc. Financial Statement Overview

Summary

Weak fundamentals: revenue declined ~18% in 2025 after prior scaling, losses remain large with deeply negative net margin (~-349%), and cash burn is heavy with materially negative operating/free cash flow (~-89M). Balance sheet leverage is moderate (debt-to-equity ~0.26), but shrinking equity and strongly negative ROE (~-55%) signal ongoing shareholder value erosion.

Income Statement

Revenue scaled meaningfully over the last few years, but the latest annual period (2025) shows a sharp pullback (down ~18% vs. 2024) after prior growth. Profitability remains very weak: net losses are large and persistent, with net margin deeply negative (about -349% in 2025), and operating losses also sizable. Overall, the business is still far from demonstrating a stable, improving earnings profile.

Balance Sheet

Leverage looks manageable on the surface with debt-to-equity around 0.26 in 2025 (and ~0.19 in 2024), but the equity base has been shrinking (equity down from ~235M in 2024 to ~159M in 2025) alongside ongoing losses. Return on equity is strongly negative in the most recent years (about -55% in 2025), highlighting continued value erosion for shareholders despite a relatively moderate debt load.

Cash Flow

Cash generation has deteriorated: operating cash flow and free cash flow are both materially negative in 2025 (about -89M), and free cash flow worsened versus the prior year. Cash burn roughly tracks reported losses (free cash flow is close to net income), which is somewhat consistent, but the core issue is the magnitude and persistence of cash outflows—raising funding needs and execution risk.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	25.21M	52.30M	44.76M	17.20M	243.00K
Gross Profit	19.89M	52.30M	-49.65M	15.47M	-144.00K
EBITDA	-90.70M	-83.49M	-74.28M	-39.19M	-20.75M
Net Income	-87.87M	-78.06M	-68.25M	-43.59M	-21.44M
Balance Sheet
Total Assets	221.10M	324.60M	364.84M	414.49M	141.99M
Cash, Cash Equivalents and Short-Term Investments	160.80M	248.31M	271.18M	362.13M	108.15M
Total Debt	40.66M	45.78M	48.23M	18.57M	48.93M
Total Liabilities	62.51M	89.74M	149.67M	488.91M	174.54M
Stockholders Equity	158.60M	234.86M	215.17M	-74.43M	-32.54M
Cash Flow
Free Cash Flow	-89.47M	-112.19M	-101.22M	15.75M	21.35M
Operating Cash Flow	-88.89M	-109.07M	-91.41M	29.72M	24.26M
Investing Cash Flow	103.53M	-88.16M	45.73M	-122.20M	-74.32M
Financing Cash Flow	-356.00K	84.01M	1.01M	239.59M	39.92M

Metagenomi, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MGX, the sentiment is Negative. The current price of 1.48 is below the 20-day moving average (MA) of 1.54, below the 50-day MA of 1.59, and below the 200-day MA of 1.91, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 45.57 is Neutral, neither overbought nor oversold. The STOCH value of 16.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MGX.

Metagenomi, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ORMP	62 Neutral	$143.69M	0.57	27.20%	―	―	814.20%
CNTX	57 Neutral	$262.77M	-2.38	-30.93%	―	―	69.30%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
MGX	47 Neutral	$54.93M	-0.69	-40.87%	―	-43.88%	4.73%
IMUX	47 Neutral	$156.56M	-8.55	-1197.81%	―	―	30.16%
HOWL	44 Neutral	$42.24M	-1.37	-122.43%	―	-100.00%	-8.30%
ATRA	42 Neutral	$42.77M	-16.66	-41.78%	―	51.27%	―

Metagenomi, Inc. Corporate Events

Metagenomi Therapeutics Rebrands to Emphasize Therapeutic Focus

On January 12, 2026, Metagenomi Therapeutics, Inc. formally changed its corporate name from Metagenomi, Inc. and updated its charter and bylaws accordingly, while retaining its Nasdaq listing under the ticker MGX and its existing CUSIP, signaling a strategic emphasis on its therapeutic focus rather than any change to shareholder rights or capital structure. In a related January 12, 2025 announcement, the company highlighted 2025 preclinical milestones for MGX-001, including curative and durable FVIII activity with no identifiable off-target editing in non-human primates and a completed pre-IND meeting in the fourth quarter of 2025, as well as progress in secreted protein deficiency and cardiometabolic programs, all under a pipeline reprioritization and revised capital allocation plan that extends its projected cash runway through the fourth quarter of 2027 and positions it for potential regulatory submissions in late 2026 and a first-in-human study of MGX-001 in 2027.

The most recent analyst rating on (MGX) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Metagenomi, Inc. stock, see the MGX Stock Forecast page.