Metagenomi, Inc. (NASDAQ:MGX) Receives $16.67 Consensus PT from Analysts

Shares of Metagenomi, Inc. (NASDAQ:MGX) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat 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 $16.67.

Several analysts recently weighed in on MGX shares. HC Wainwright lifted their price target on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Metagenomi in a report on Wednesday, November 20th.

Metagenomi Stock Down 1.3 %

MGX opened at $2.33 on Tuesday. Metagenomi has a 12-month low of $1.61 and a 12-month high of $12.50. The business has a 50 day moving average of $2.99 and a 200-day moving average of $2.62.

Hedge Funds Weigh In On Metagenomi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGX. BNP Paribas Financial Markets raised its holdings in Metagenomi by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock valued at $28,000 after acquiring an additional 7,256 shares in the last quarter. Verition Fund Management LLC acquired a new position in Metagenomi in the 3rd quarter valued at $82,000. Jacobs Levy Equity Management Inc. raised its holdings in Metagenomi by 209.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 136,624 shares of the company’s stock valued at $296,000 after acquiring an additional 92,468 shares in the last quarter. Geode Capital Management LLC raised its holdings in Metagenomi by 105.8% in the 3rd quarter. Geode Capital Management LLC now owns 338,031 shares of the company’s stock valued at $734,000 after acquiring an additional 173,796 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Metagenomi in the 3rd quarter valued at $33,000.

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.