Metagenomi, Inc. (NASDAQ:MGX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Metagenomi, Inc. (NASDAQ:MGX) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $15.50.

A number of research analysts have recently issued reports on MGX shares. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Metagenomi in a report on Thursday, September 5th. BMO Capital Markets dropped their price target on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Metagenomi in a research note on Friday, September 6th.

Hedge Funds Weigh In On Metagenomi

Several institutional investors have recently made changes to their positions in MGX. Novo Holdings A S raised its position in Metagenomi by 3.5% in the second quarter. Novo Holdings A S now owns 1,800,000 shares of the company’s stock worth $7,344,000 after acquiring an additional 60,825 shares during the period. XTX Topco Ltd bought a new position in Metagenomi in the 2nd quarter worth $66,000. Resolute Advisors LLC lifted its position in Metagenomi by 165.0% during the second quarter. Resolute Advisors LLC now owns 26,500 shares of the company’s stock valued at $108,000 after purchasing an additional 16,500 shares in the last quarter. Rhumbline Advisers bought a new stake in Metagenomi during the second quarter valued at about $26,000. Finally, Farallon Capital Management LLC purchased a new stake in Metagenomi in the first quarter worth about $14,171,000.

Metagenomi Stock Up 8.8 %

Shares of Metagenomi stock opened at $2.22 on Friday. The company has a 50-day simple moving average of $3.21 and a two-hundred day simple moving average of $5.79. Metagenomi has a 52-week low of $1.99 and a 52-week high of $12.74.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.30. The firm had revenue of $20.01 million during the quarter, compared to analysts’ expectations of $14.80 million. As a group, analysts anticipate that Metagenomi will post -3.04 earnings per share for the current fiscal year.

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.