Analysts Set Metagenomi, Inc. (NASDAQ:MGX) Price Target at $16.67

Shares of Metagenomi, Inc. (NASDAQ:MGX) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $16.67.

Several equities analysts recently issued reports on MGX shares. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Metagenomi in a research report on Wednesday, November 20th. HC Wainwright boosted their price target on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th.

Metagenomi Trading Up 2.6 %

Shares of NASDAQ MGX opened at $3.61 on Monday. The firm’s 50 day moving average price is $2.60 and its 200-day moving average price is $3.01. Metagenomi has a 52-week low of $1.61 and a 52-week high of $12.74.

Institutional Trading of Metagenomi

Large investors have recently modified their holdings of the company. Rhumbline Advisers purchased a new position in shares of Metagenomi in the second quarter worth approximately $26,000. BNP Paribas Financial Markets boosted its stake in shares of 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 acquiring an additional 7,256 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Metagenomi during the 3rd quarter valued at $33,000. XTX Topco Ltd purchased a new stake in shares of Metagenomi in the 2nd quarter worth $66,000. Finally, Resolute Advisors LLC raised its holdings in Metagenomi by 165.0% in the 2nd quarter. Resolute Advisors LLC now owns 26,500 shares of the company’s stock worth $108,000 after purchasing an additional 16,500 shares during the period.

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.