Metagenomi’s (MGX) Buy Rating Reiterated at Chardan Capital

Metagenomi (NASDAQ:MGX)‘s stock had its “buy” rating reissued by research analysts at Chardan Capital in a note issued to investors on Wednesday,Benzinga reports. They currently have a $15.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Metagenomi in a report on Tuesday, October 15th. BMO Capital Markets cut their price target on Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Metagenomi Stock Down 2.4 %

MGX traded down $0.04 during trading on Wednesday, reaching $1.65. 687,165 shares of the company’s stock were exchanged, compared to its average volume of 185,726. The business has a 50 day moving average price of $2.12 and a 200 day moving average price of $3.77. Metagenomi has a fifty-two week low of $1.61 and a fifty-two week high of $12.74.

Institutional Investors Weigh In On Metagenomi

A number of institutional investors and hedge funds have recently made changes to their positions in MGX. Virtu Financial LLC acquired a new position in Metagenomi in the 3rd quarter valued at $33,000. Geode Capital Management LLC lifted its position in shares of Metagenomi by 105.8% during the 3rd quarter. Geode Capital Management LLC now owns 338,031 shares of the company’s stock worth $734,000 after buying an additional 173,796 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Metagenomi by 209.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 136,624 shares of the company’s stock valued at $296,000 after purchasing an additional 92,468 shares during the last quarter. Verition Fund Management LLC bought a new position in Metagenomi in the third quarter valued at about $82,000. Finally, BNP Paribas Financial Markets raised its position in shares of Metagenomi by 130.9% during the third quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock worth $28,000 after acquiring an additional 7,256 shares during the last quarter.

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.