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

Metagenomi, Inc. (NASDAQ:MGX) has earned 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 objective among analysts that have issued ratings on the stock in the last year is $16.67.

Several equities research analysts have recently commented on the stock. HC Wainwright lifted 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. Chardan Capital restated a “buy” rating and issued a $15.00 price objective on shares of Metagenomi in a research report on Wednesday, November 20th.

Metagenomi Stock Up 6.5 %

NASDAQ MGX opened at $2.61 on Tuesday. The firm’s fifty day simple moving average is $3.12 and its two-hundred day simple moving average is $2.67. Metagenomi has a 12-month low of $1.61 and a 12-month high of $12.74.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGX. Voya Investment Management LLC purchased a new stake in shares of Metagenomi in the fourth quarter valued at about $37,000. Price T Rowe Associates Inc. MD acquired a new stake in Metagenomi during the 4th quarter valued at $39,000. Rhumbline Advisers increased its position in Metagenomi by 123.3% during the fourth quarter. Rhumbline Advisers now owns 11,998 shares of the company’s stock worth $43,000 after buying an additional 6,626 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Metagenomi in the fourth quarter worth $43,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Metagenomi by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock valued at $28,000 after acquiring an additional 7,256 shares in 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.