Metagenomi (NASDAQ:MGX) Price Target Lowered to $20.00 at Wells Fargo & Company

Metagenomi (NASDAQ:MGX) had its target price decreased by Wells Fargo & Company from $25.00 to $20.00 in a report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other brokerages have also recently commented on MGX. HC Wainwright raised their price objective on shares of Metagenomi from $7.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Chardan Capital restated a “buy” rating and set a $15.00 target price on shares of Metagenomi in a report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.40.

Metagenomi Stock Down 1.8 %

Shares of NASDAQ MGX opened at $1.68 on Tuesday. Metagenomi has a 52 week low of $1.61 and a 52 week high of $11.86. The firm has a 50-day moving average price of $2.40 and a 200 day moving average price of $2.49. The stock has a market capitalization of $62.80 million and a price-to-earnings ratio of -0.64.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.01). Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%. The company had revenue of $9.61 million during the quarter, compared to analyst estimates of $13.18 million. During the same quarter last year, the business earned ($20.05) EPS. Equities research analysts expect that Metagenomi will post -2.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Metagenomi

Several hedge funds have recently added to or reduced their stakes in MGX. Geode Capital Management LLC grew its holdings in shares of Metagenomi by 73.8% during the fourth 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 in the last quarter. Norges Bank purchased a new stake in shares of Metagenomi during the fourth quarter worth about $1,300,000. Peapod Lane Capital LLC purchased a new stake in shares of Metagenomi during the fourth quarter worth about $1,268,000. Northern Trust Corp grew its holdings in shares of Metagenomi by 185.6% during the fourth quarter. Northern Trust Corp now owns 223,934 shares of the company’s stock worth $808,000 after buying an additional 145,536 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings 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 in the last quarter.

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.