Metagenomi, Inc. (NASDAQ:MGX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Metagenomi, Inc. (NASDAQ:MGX) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $15.50.

Several analysts recently weighed in on MGX shares. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Metagenomi in a report on Thursday, September 5th. BMO Capital Markets cut their target price on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Metagenomi in a research note on Tuesday.

Hedge Funds Weigh In On Metagenomi

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers bought a new position in shares of Metagenomi during the second quarter valued at $26,000. Resolute Advisors LLC bought a new stake in Metagenomi during the 1st quarter valued at about $106,000. XTX Topco Ltd purchased a new position in Metagenomi in the second quarter worth about $66,000. Green Alpha Advisors LLC purchased a new position in Metagenomi in the third quarter worth about $69,000. Finally, Altitude Crest Partners Inc. bought a new position in shares of Metagenomi in the first quarter worth approximately $1,407,000.

Metagenomi Price Performance

NASDAQ MGX opened at $1.97 on Wednesday. Metagenomi has a 1 year low of $1.85 and a 1 year high of $12.74. The business’s 50-day moving average is $2.65 and its 200 day moving average is $4.89.

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