Metagenomi, Inc. (NASDAQ:MGX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Metagenomi, Inc. (NASDAQ:MGX) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.67.

Several brokerages recently weighed in on MGX. HC Wainwright raised their target price on Metagenomi from $7.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of Metagenomi in a report on Wednesday, November 20th.

Metagenomi Stock Down 7.2 %

Shares of NASDAQ MGX opened at $3.74 on Monday. Metagenomi has a 1 year low of $1.61 and a 1 year high of $12.74. The stock has a fifty day moving average price of $2.50 and a two-hundred day moving average price of $3.04.

Hedge Funds Weigh In On Metagenomi

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers purchased a new stake in shares of Metagenomi in the 2nd quarter valued at approximately $26,000. BNP Paribas Financial Markets lifted its holdings in shares of Metagenomi by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock valued at $28,000 after purchasing an additional 7,256 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Metagenomi in the third quarter valued at $33,000. XTX Topco Ltd acquired a new stake in shares of Metagenomi in the second quarter worth $66,000. Finally, Resolute Advisors LLC grew its holdings in shares of Metagenomi by 165.0% during the second quarter. Resolute Advisors LLC now owns 26,500 shares of the company’s stock valued at $108,000 after buying an additional 16,500 shares in 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.