Short Interest in Metagenomi, Inc. (NASDAQ:MGX) Rises By 21.7%

Metagenomi, Inc. (NASDAQ:MGX) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,640,000 shares, a growth of 21.7% from the January 15th total of 2,170,000 shares. Approximately 14.1% of the company’s shares are short sold. Based on an average daily volume of 2,300,000 shares, the days-to-cover ratio is currently 1.1 days.

Metagenomi Stock Performance

MGX opened at $2.61 on Friday. Metagenomi has a 12 month low of $1.61 and a 12 month high of $12.74. The company has a fifty day simple moving average of $3.14 and a 200 day simple moving average of $2.70.

Hedge Funds Weigh In On Metagenomi

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Metagenomi by 73.8% during the 4th quarter. Geode Capital Management LLC now owns 587,421 shares of the company’s stock worth $2,121,000 after buying an additional 249,390 shares during the period. Norges Bank acquired a new position in Metagenomi in the 4th quarter worth $1,300,000. Peapod Lane Capital LLC bought a new position in Metagenomi during the 4th quarter worth about $1,268,000. Northern Trust Corp raised its stake in shares of Metagenomi by 185.6% in the 4th quarter. Northern Trust Corp now owns 223,934 shares of the company’s stock valued at $808,000 after purchasing an additional 145,536 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Metagenomi by 209.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 136,624 shares of the company’s stock worth $296,000 after buying an additional 92,468 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MGX. HC Wainwright boosted their price target on shares of Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of Metagenomi in a research note on Wednesday, November 20th. One analyst has rated the stock with a hold rating and six have assigned 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 price target of $16.67.

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.