Metagenomi, Inc. (NASDAQ:MGX) Chief Financial Officer Pamela Wapnick recently sold 1,559 shares of the company's common stock, with a total transaction value of $2,899. The shares were sold at a price of $1.86 each, marking a significant discount from the stock's 52-week high of $12.74. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value assessment.
The transaction occurred on December 5, 2024, and was part of an automatic sale to cover tax withholding obligations related to the vesting of restricted stock units granted earlier in the year. This sale was not a discretionary trade by Wapnick, as noted in the filing. Following this transaction, Wapnick holds 61,492 shares of Metagenomi stock. The company maintains a strong liquidity position with a current ratio of 6.18 and holds more cash than debt on its balance sheet. Unlock 11 additional key insights about MGX with an InvestingPro subscription.
In other recent news, Metagenomi has been making strides in its Hemophilia A gene editing program. The company's therapeutic approach, which includes a lipid nanoparticle and an adeno-associated virus, has shown potential efficacy in non-human primate studies, with FVIII expression levels reaching up to 81.7%. This development is particularly significant as it highlights the potential of Metagenomi's gene editing strategy in treating Hemophilia A.
Analysts from H.C. Wainwright and TD Cowen have maintained a Buy rating on Metagenomi shares, emphasizing the potential of the company's SMART nucleases for neuromuscular targets. However, JPMorgan has downgraded Metagenomi from Overweight to Neutral, following the termination of the company's partnership with Moderna (NASDAQ:MRNA).
Additionally, the company showcased its advancements in CRISPR technology at a recent conference, particularly its proprietary SMART platform, which has shown improved efficiency across various targets and cell types. Metagenomi's research emphasized the potential of its SMART nucleases, which are ultra-small systems that can be guided by RNA to precisely edit genes within a genome sequence. These advancements contribute to the company's ongoing progress in the field of gene editing.
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