Metagenomi Therapeutics Inc. (MGX) — RQD Stock Rating Cockpit

The per the Roarable RQD rating, MGX scores 24 out of 100, a letter grade of E, labeled "Roarable Strong Sell — Forensic Risk / Avoid." The five pillars are:

• Fundamental Cash Engine: 5 / 20. Per the Roarable RQD rating, this reflects ROIC of -35% and an FCF yield of 0%. For a prospective investor, the company is not currently generating returns on invested capital or free cash flow to shareholders; any upside case must rest on future operating change rather than present cash generation.
• Whale 13F Flow: 4 / 20. Per the Roarable RQD rating, this pillar reflects institutional accumulation and options positioning. The low score indicates little supportive institutional flow in the source data, which removes a potential demand tailwind.
• Insider Conviction: 3 / 20. Per the Roarable RQD rating, this pillar reflects SEC Form 4 and Congressional PTR cluster flow. It is the lowest pillar, signaling weak insider-side conviction in the source data.
• Macro Regime Fit: 7 / 20. Per the Roarable RQD rating, beta is 1.0 with sector sensitivity considered. A beta of 1.0 means the stock moves in line with the broad market, so it offers no defensive cushion and no obvious macro-regime advantage in the source framing.
• Forensic Balance Sheet: 5 / 20. Per the Roarable RQD rating, the Altman Z-Score is 0.2, the Piotroski F-Score is 1/9, and Debt/Equity is 0.5. These forensic readings point to elevated balance-sheet stress.

Valuation tradeoffs: with a market capitalization of $31.4M and a price of 0.83, the equity is small and the financial metrics are negative, so valuation multiples that depend on earnings are not available. Investors evaluating the stock today face the question of whether the balance-sheet stress and negative cash generation are priced in, which the source data does not resolve. The RQD framework weighs these factors heavily toward caution.

Per the SEC financials, revenue declined from $52.3M in FY 2024 to $25.2M in FY 2025, while net losses widened from $-78.1M to $-87.9M. Per the market data, operating margin and net margin are both -60%, gross margin is 0%, and ROIC is -35%. Per the Roarable RQD rating, the Altman Z-Score is 0.2 and the Piotroski F-Score is 1/9, both consistent with significant financial distress. Per the Roarable RQD rating, Debt/Equity is 0.5; the debt figures themselves are N/A in the SEC financials.

Per the recent news data, the most recent items are:

• A headline about Metagenomi's participation in the Chardan 10th Annual Healthcare Conference, rated YELLOW (market wire).
• A Stock Titan piece framing a gene-editing panel that looks beyond first-generation CRISPR, rated YELLOW.
• A Simply Wall St forecast and analyst-predictions piece, rated YELLOW.
• A Yahoo Finance seasonal returns chart, rated YELLOW.
• A Pluang item on the CEO discussing next-generation genome editing, rated YELLOW.
• A BigGo Finance item rated GREEN (catalyst) concerning 800V DC power delivery for AI data centers in connection with Nvidia's MGX initiative. This item refers to a different entity sharing the MGX name and is not a verified catalyst for Metagenomi.

Per the Butterfly Supply-Chain Graph, no supply-chain links or proprietary signals are present. The only GREEN-flagged item relates to an unrelated initiative and should be treated with caution as a risk-watch item rather than a positive catalyst for this issuer.

• What are the company's debt obligations, given that debt figures are N/A in the SEC financials while Debt/Equity is reported as 0.5?
• What is the source of FY 2025 revenue of $25.2M, and why did it decline from $52.3M in FY 2024?
• What is the cash runway implied by $41.7M cash against FY 2025 free cash flow of $-89.5M?
• Who are the institutional and insider holders, and what is their recent activity?
• What drives the reported EPS as N/A, and how should per-share economics be evaluated?