Metagenomi (NASDAQ:MGX) Price Target Cut to $20.00 by Analysts at Wells Fargo & Company

Metagenomi (NASDAQ:MGX) had its target price decreased by Wells Fargo & Company from $25.00 to $20.00 in a research note published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on MGX. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Metagenomi in a research report on Wednesday, November 20th. HC Wainwright raised their price objective on shares of Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Metagenomi presently has an average rating of “Moderate Buy” and a consensus target price of $14.40.

Metagenomi Stock Performance

Shares of NASDAQ:MGX opened at $1.73 on Tuesday. Metagenomi has a 52 week low of $1.61 and a 52 week high of $11.86. The company has a 50-day moving average price of $2.46 and a 200 day moving average price of $2.50.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%. The company had revenue of $9.61 million for the quarter, compared to analyst estimates of $13.18 million. During the same quarter in the previous year, the business posted ($20.05) earnings per share. On average, research analysts forecast that Metagenomi will post -2.46 EPS for the current fiscal year.

Institutional Trading of Metagenomi

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Metagenomi by 73.8% in the 4th quarter. Geode Capital Management LLC now owns 587,421 shares of the company’s stock worth $2,121,000 after acquiring an additional 249,390 shares during the period. Norges Bank acquired a new position in shares of Metagenomi in the 4th quarter valued at $1,300,000. Peapod Lane Capital LLC acquired a new position in shares of Metagenomi in the 4th quarter valued at $1,268,000. Northern Trust Corp boosted its holdings in shares of Metagenomi by 185.6% in the 4th quarter. Northern Trust Corp now owns 223,934 shares of the company’s stock valued at $808,000 after purchasing an additional 145,536 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of 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 purchasing an additional 92,468 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.