Metagenomi’s (MGX) Buy Rating Reiterated at HC Wainwright

Metagenomi (NASDAQ:MGX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 270.37% from the stock’s previous close.

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

Metagenomi Price Performance

Shares of MGX stock opened at $1.89 on Thursday. Metagenomi has a 12 month low of $1.61 and a 12 month high of $12.74. The company’s fifty day simple moving average is $2.08 and its 200-day simple moving average is $3.74.

Institutional Trading of Metagenomi

Several institutional investors and hedge funds have recently bought and sold shares of MGX. Rhumbline Advisers acquired a new position in Metagenomi in the 2nd quarter valued at about $26,000. BNP Paribas Financial Markets lifted its holdings in Metagenomi by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock worth $28,000 after purchasing an additional 7,256 shares during the last quarter. Virtu Financial LLC bought a new stake in Metagenomi in the 3rd quarter valued at $33,000. XTX Topco Ltd bought a new position in Metagenomi during the 2nd quarter worth $66,000. Finally, Green Alpha Advisors LLC bought a new stake in shares of Metagenomi in the third quarter valued at about $69,000.

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.