Metagenomi, Inc. (NASDAQ:MGX) Stock Catapults 106% Though Its Price And Business Still Lag The Industry
Metagenomi, Inc. (NASDAQ:MGX) shareholders would be excited to see that the share price has had a great month, posting a 106% gain and recovering from prior weakness. Longer-term shareholders would be thankful for the recovery in the share price since it’s now virtually flat for the year after the recent bounce.
Even after such a large jump in price, Metagenomi’s price-to-sales (or “P/S”) ratio of 2.8x might still make it look like a strong buy right now compared to the wider Biotechs industry in the United States, where around half of the companies have P/S ratios above 10.9x and even P/S above 60x are quite common. Although, it’s not wise to just take the P/S at face value as there may be an explanation why it’s so limited. …
