Metagenomi, Inc. (NASDAQ:MGX) Receives $15.50 Consensus Target Price from Brokerages

Metagenomi, Inc. (NASDAQ:MGX) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, 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 target among brokers that have issued ratings on the stock in the last year is $15.50.

A number of equities research analysts have issued reports on MGX shares. BMO Capital Markets reduced their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Metagenomi in a report on Tuesday, October 15th. Finally, Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Metagenomi in a report on Thursday, September 5th.

Metagenomi Trading Up 5.7 %

NASDAQ MGX opened at $2.21 on Friday. The company has a 50 day moving average of $2.23 and a 200-day moving average of $3.99. Metagenomi has a 1-year low of $1.85 and a 1-year high of $12.74.

Metagenomi (NASDAQ:MGX) last released its earnings results 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 company had revenue of $20.01 million for the quarter, compared to the consensus estimate of $14.80 million. Sell-side analysts expect that Metagenomi will post -3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Metagenomi

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

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.