Metagenomi (NASDAQ:MGX) Earns “Buy” Rating from Chardan Capital

Chardan Capital reissued their buy rating on shares of Metagenomi (NASDAQ:MGX) in a research note released on Wednesday morning,Benzinga reports. They currently have a $15.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Metagenomi in a research report on Tuesday, October 15th. BMO Capital Markets reduced their price target on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Metagenomi has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Metagenomi Stock Up 3.8 %

Shares of NASDAQ:MGX opened at $1.89 on Wednesday. Metagenomi has a 1-year low of $1.61 and a 1-year high of $12.74. The firm’s 50 day simple moving average is $2.06 and its two-hundred day simple moving average is $3.71.

Institutional Trading of Metagenomi

A number of hedge funds have recently added to or reduced their stakes in MGX. Virtu Financial LLC purchased a new stake in shares of Metagenomi during the third quarter valued at about $33,000. Geode Capital Management LLC lifted its position in shares of Metagenomi by 105.8% during the third quarter. Geode Capital Management LLC now owns 338,031 shares of the company’s stock valued at $734,000 after buying an additional 173,796 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Metagenomi by 209.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 136,624 shares of the company’s stock valued at $296,000 after buying an additional 92,468 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Metagenomi during the third quarter valued at about $82,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Metagenomi by 130.9% during the third quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock valued at $28,000 after buying an additional 7,256 shares during the last quarter.

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.