Metagenomi, Inc. (NASDAQ:MGX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Metagenomi, Inc. (NASDAQ:MGX) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $16.67.

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

Metagenomi Stock Performance

NASDAQ:MGX opened at $3.62 on Monday. Metagenomi has a 1 year low of $1.61 and a 1 year high of $12.74. The stock’s fifty day moving average price is $2.67 and its two-hundred day moving average price is $3.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers bought a new stake in shares of Metagenomi during the 2nd quarter worth $26,000. Resolute Advisors LLC lifted its stake in Metagenomi by 165.0% during the second 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 last quarter. XTX Topco Ltd purchased a new position in shares of Metagenomi in the 2nd quarter worth about $66,000. Novo Holdings A S increased its position 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 valued at $7,344,000 after purchasing an additional 60,825 shares during the last quarter. Finally, Green Alpha Advisors LLC purchased a new position in shares of Metagenomi during the 3rd quarter valued at about $69,000.

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.