Rhumbline Advisers Makes New $26,000 Investment in Metagenomi, Inc. (NASDAQ:MGX)

Rhumbline Advisers purchased a new position in Metagenomi, Inc. (NASDAQ:MGX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,423 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds also recently bought and sold shares of MGX. Resolute Advisors LLC bought a new position in Metagenomi in the 1st quarter worth $106,000. Altitude Crest Partners Inc. bought a new stake in Metagenomi during the 1st quarter valued at approximately $1,407,000. Vanguard Group Inc. bought a new position in Metagenomi in the 1st quarter worth approximately $1,894,000. Artal Group S.A. purchased a new position in shares of Metagenomi in the first quarter worth $3,165,000. Finally, Hhlr Advisors LTD. bought a new position in shares of Metagenomi during the first quarter worth $8,205,000.

Analysts Set New Price Targets

Several research analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Metagenomi in a research note on Friday, September 6th. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Metagenomi in a report on Thursday, September 5th. Finally, BMO Capital Markets dropped their target price on Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.50.

Metagenomi Stock Performance

Shares of MGX opened at $2.07 on Wednesday. The firm’s fifty day simple moving average is $3.12 and its 200-day simple moving average is $5.58. Metagenomi, Inc. has a twelve month low of $1.99 and a twelve month high of $12.74.

Metagenomi (NASDAQ:MGX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.30. The firm had revenue of $20.01 million during the quarter, compared to analysts’ expectations of $14.80 million. Sell-side analysts anticipate that Metagenomi, Inc. will post -3.04 earnings per share for the current fiscal year.

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.