Chardan Capital Reaffirms Buy Rating for Metagenomi (NASDAQ:MGX)

Metagenomi (NASDAQ:MGX)‘s stock had its “buy” rating reissued by Chardan Capital in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $15.00 price target on the stock.

A number of other research analysts have also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Metagenomi in a research note on Tuesday, October 15th. BMO Capital Markets cut their target price on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Metagenomi Stock Performance

Metagenomi stock opened at $1.82 on Wednesday. The business has a 50 day simple moving average of $2.10 and a 200 day simple moving average of $3.75. Metagenomi has a one year low of $1.61 and a one year high of $12.74.

Hedge Funds Weigh In On Metagenomi

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

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.