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

Shares of Metagenomi, Inc. (NASDAQ:MGX) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $15.50.

Several analysts recently commented on the stock. Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Metagenomi in a research note on Wednesday, November 20th. BMO Capital Markets cut their target price on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Metagenomi in a research note on Thursday, November 21st.

Metagenomi Trading Down 8.4 %

NASDAQ MGX opened at $1.86 on Thursday. Metagenomi has a 12 month low of $1.61 and a 12 month high of $12.74. The company’s 50 day simple moving average is $1.99 and its 200 day simple moving average is $3.42.

Institutional Investors Weigh In On Metagenomi

Several hedge funds have recently made changes to their positions in MGX. Vanguard Group Inc. purchased a new stake in shares of Metagenomi in the 1st quarter valued at approximately $1,894,000. Geode Capital Management LLC increased its stake in Metagenomi by 105.8% in the 3rd 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 period. Jacobs Levy Equity Management Inc. increased its stake in Metagenomi by 209.4% in the 3rd 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 period. Novo Holdings A S increased its stake in Metagenomi by 3.5% in the 2nd quarter. Novo Holdings A S now owns 1,800,000 shares of the company’s stock valued at $7,344,000 after buying an additional 60,825 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Metagenomi in the 3rd quarter valued at approximately $82,000.

About Metagenomi

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.