Metagenomi (NASDAQ:MGX) Receives Buy Rating from Chardan Capital

Chardan Capital reissued their buy rating on shares of Metagenomi (NASDAQ:MGX) in a report released on Wednesday morning,Benzinga reports. The firm currently has a $15.00 target price on the stock.

Several other equities analysts also recently weighed in on the stock. BMO Capital Markets cut 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. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Metagenomi in a report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Metagenomi Trading Up 3.8 %

Shares of NASDAQ:MGX opened at $1.89 on Wednesday. Metagenomi has a twelve month low of $1.61 and a twelve month high of $12.74. The company’s 50 day moving average is $2.06 and its 200 day moving average is $3.71.

Institutional Investors Weigh In On Metagenomi

Several hedge funds have recently bought and sold shares of MGX. Rhumbline Advisers purchased a new position in shares of Metagenomi during the 2nd quarter valued at approximately $26,000. BNP Paribas Financial Markets lifted its position in shares of Metagenomi by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock valued at $28,000 after buying an additional 7,256 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Metagenomi during the 3rd quarter valued at approximately $33,000. XTX Topco Ltd purchased a new position in shares of Metagenomi during the 2nd quarter valued at approximately $66,000. Finally, Resolute Advisors LLC lifted its position in shares of Metagenomi by 165.0% during the 2nd quarter. Resolute Advisors LLC now owns 26,500 shares of the company’s stock valued at $108,000 after buying an additional 16,500 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.