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Pamela Wapnick, the Chief Financial Officer of Metagenomi, Inc. (NASDAQ:MGX), recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission (SEC), Wapnick sold 1,808 shares of common stock on March 5, 2025. The shares were sold at a weighted average price of $1.8748, resulting in a total transaction value of $3,389. The transaction occurs as MGX trades near $2.07, down about 84% over the past year. According to InvestingPro analysis, the stock currently appears undervalued relative to its Fair Value.
This sale was conducted to satisfy tax withholding obligations following the vesting of certain restricted stock units granted to Wapnick on April 1, 2024. After the transaction, Wapnick holds 59,684 shares of Metagenomi. The sale was not a voluntary trade but rather an automatic transaction to cover tax liabilities. InvestingPro data shows the company maintains strong liquidity with a current ratio of 6.18 and holds more cash than debt on its balance sheet. Subscribers can access 10+ additional ProTips and detailed financial metrics to better understand MGX’s investment potential.
In other recent news, Metagenomi has made significant strides in its therapeutic development programs, achieving various milestones throughout 2024 and setting ambitious targets for the years ahead. The biotechnology company is advancing MGX-001, a potential treatment for hemophilia A, and is making progress in its cardiometabolic disease programs in collaboration with Ionis Pharmaceuticals (NASDAQ:IONS). Metagenomi has declared MGX-001 as a wholly-owned development candidate and has initiated discussions with the FDA, alongside starting Good Manufacturing Practice activities. Data presented at the American Society of Hematology’s annual meeting showed sustained Factor VIII activity in a nonhuman primate study for over 16 months. Looking to 2025, the company aims to finalize its nonhuman primate durability study and secure an Investigational New Drug status. Metagenomi also plans to engage in regulatory meetings to support future Clinical Trial Application submissions. Additionally, the company has made technological advancements, including presenting compact SMART nucleases and novel Adenine Base Editors. In a strategic move, Metagenomi has appointed Eric Bjerkholt from Mirum Pharmaceuticals (NASDAQ:MIRM) to its Board of Directors.
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