Metagenomi’s (MGX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Metagenomi (NASDAQ:MGX) in a research note released on Tuesday morning, Benzinga reports. HC Wainwright currently has a $7.00 price objective on the stock.

Several other analysts have also recently commented on MGX. Chardan Capital reissued a buy rating and issued a $15.00 price target on shares of Metagenomi in a report on Thursday, September 5th. BMO Capital Markets reduced their price objective on Metagenomi from $22.00 to $17.00 and set an outperform rating for the company in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $15.50.

Metagenomi Price Performance

MGX opened at $1.97 on Tuesday. The business has a 50 day simple moving average of $2.65 and a 200-day simple moving average of $4.89. Metagenomi has a 12 month low of $1.85 and a 12 month high of $12.74.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.30. The business had revenue of $20.01 million during the quarter, compared to analyst estimates of $14.80 million. On average, equities research analysts predict that Metagenomi will post -3.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Metagenomi

Several hedge funds have recently bought and sold shares of MGX. Resolute Advisors LLC purchased a new position in Metagenomi during the first quarter worth $106,000. Vanguard Group Inc. purchased a new position in Metagenomi during the first quarter worth $1,894,000. Altitude Crest Partners Inc. purchased a new position in Metagenomi during the first quarter worth $1,407,000. Hhlr Advisors LTD. purchased a new position in Metagenomi during the first quarter worth $8,205,000. Finally, Artal Group S.A. purchased a new position in Metagenomi during the first quarter worth $3,165,000.

Metagenomi Company Profile

Metagenomi, Inc, a genetic medicines 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.