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

Metagenomi, Inc. (NASDAQ:MGX) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $15.50.

MGX has been the topic of several analyst reports. Chardan Capital restated a “buy” rating and set a $15.00 price target on shares of Metagenomi in a research note on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Metagenomi in a research note on Thursday, November 21st. Finally, BMO Capital Markets lowered their target price 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.

Metagenomi Trading Down 8.4 %

Metagenomi stock opened at $1.86 on Thursday. The firm’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $3.42. Metagenomi has a twelve month low of $1.61 and a twelve month high of $12.74.

Institutional Trading of Metagenomi

A number of hedge funds have recently bought and sold shares of MGX. Vanguard Group Inc. bought a new stake in Metagenomi in the 1st quarter valued at $1,894,000. Rhumbline Advisers bought a new position in shares of Metagenomi during the 2nd quarter worth about $26,000. Resolute Advisors LLC lifted its holdings in shares of Metagenomi by 165.0% during the 2nd quarter. Resolute Advisors LLC now owns 26,500 shares of the company’s stock worth $108,000 after acquiring an additional 16,500 shares during the period. XTX Topco Ltd bought a new position in shares of Metagenomi during the 2nd quarter worth about $66,000. Finally, Novo Holdings A S lifted its holdings in shares of Metagenomi by 3.5% during the 2nd quarter. Novo Holdings A S now owns 1,800,000 shares of the company’s stock worth $7,344,000 after acquiring an additional 60,825 shares during the period.

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.