Metagenomi, Inc. (NASDAQ:MGX) Receives $15.50 Average PT from Analysts

Metagenomi, Inc. (NASDAQ:MGX) has received an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $15.50.

MGX has been the subject of several research analyst reports. BMO Capital Markets dropped their target price on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Metagenomi in a report on Thursday, September 5th. Finally, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Metagenomi in a research note on Friday, September 6th.

Hedge Funds Weigh In On Metagenomi

A number of large investors have recently bought and sold shares of the business. RA Capital Management L.P. acquired a new stake in shares of Metagenomi during the 1st quarter worth approximately $18,404,000. Farallon Capital Management LLC bought a new position in Metagenomi during the 1st quarter worth $14,171,000. Hhlr Advisors LTD. bought a new position in Metagenomi during the 1st quarter worth $8,205,000. Artal Group S.A. acquired a new stake in Metagenomi in the first quarter worth $3,165,000. Finally, Vanguard Group Inc. bought a new stake in Metagenomi in the first quarter valued at $1,894,000.

Metagenomi Stock Down 7.8 %

Metagenomi stock opened at $2.26 on Friday. Metagenomi has a 12-month low of $2.25 and a 12-month high of $12.74. The firm’s fifty day moving average price is $3.39 and its 200 day moving average price is $5.91.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.30. The company had revenue of $20.01 million for the quarter, compared to analyst estimates of $14.80 million. Equities analysts anticipate that Metagenomi will post -3.04 EPS for the current 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.