Metagenomi, Inc. (NASDAQ:MGX) Given Average Recommendation of “Moderate Buy” by Brokerages

Metagenomi, Inc. (NASDAQ:MGX) has been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $15.50.

A number of analysts have recently issued reports on MGX shares. BMO Capital Markets lowered their price target on Metagenomi from $22.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Metagenomi in a research report on Thursday, September 5th. Finally, HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Metagenomi in a research report on Friday, September 6th.

Institutional Trading of Metagenomi

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers purchased a new position in shares of Metagenomi during the 2nd quarter worth $26,000. XTX Topco Ltd purchased a new stake in shares of Metagenomi in the 2nd quarter valued at approximately $66,000. Resolute Advisors LLC purchased a new stake in shares of Metagenomi in the 1st quarter valued at approximately $106,000. Altitude Crest Partners Inc. acquired a new position in shares of Metagenomi in the 1st quarter worth approximately $1,407,000. Finally, Vanguard Group Inc. purchased a new position in shares of Metagenomi during the 1st quarter worth approximately $1,894,000.

Metagenomi Trading Down 6.8 %

Shares of NASDAQ:MGX opened at $2.45 on Friday. The business’s 50 day moving average price is $3.45 and its 200-day moving average price is $6.06. Metagenomi has a 1 year low of $2.41 and a 1 year high of $12.74.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.30. The company had revenue of $20.01 million for the quarter, compared to analysts’ expectations of $14.80 million. Research analysts predict that Metagenomi will post -3.04 EPS for the current year.

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.