Metagenomi (NASDAQ:MGX) Stock Rating Reaffirmed by HC Wainwright

Metagenomi (NASDAQ:MGX)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $7.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 251.76% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Chardan Capital reiterated a “buy” rating and set a $15.00 target price on shares of Metagenomi in a report on Thursday, September 5th. BMO Capital Markets reduced their target price on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Metagenomi Stock Up 1.0 %

NASDAQ:MGX opened at $1.99 on Tuesday. The company has a 50 day moving average price of $2.62 and a 200 day moving average price of $4.87. Metagenomi has a fifty-two week low of $1.85 and a fifty-two week high of $12.74.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings data 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 analysts’ expectations of $14.80 million. On average, sell-side analysts anticipate that Metagenomi will post -3.04 earnings per share for the current year.

Institutional Investors Weigh In On Metagenomi

A number of hedge funds and other institutional investors have recently modified their holdings of MGX. Resolute Advisors LLC acquired a new stake in shares of Metagenomi in the 1st quarter valued at $106,000. Vanguard Group Inc. acquired a new stake in Metagenomi during the 1st quarter worth $1,894,000. Altitude Crest Partners Inc. acquired a new stake in Metagenomi during the 1st quarter worth $1,407,000. Hhlr Advisors LTD. acquired a new stake in Metagenomi during the 1st quarter worth $8,205,000. Finally, Artal Group S.A. acquired a new stake in Metagenomi during the 1st quarter worth $3,165,000.

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.