Brokerages Set Metagenomi, Inc. (NASDAQ:MGX) Target Price at $15.50

Metagenomi, Inc. (NASDAQ:MGX) has earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $15.50.

A number of research analysts have weighed in on MGX shares. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Metagenomi in a research note on Thursday, November 21st. BMO Capital Markets decreased their price target on Metagenomi from $22.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Metagenomi in a research note on Wednesday, November 20th.

Metagenomi Price Performance

Shares of MGX opened at $1.85 on Thursday. Metagenomi has a 1 year low of $1.61 and a 1 year high of $12.74. The company’s 50 day simple moving average is $1.98 and its 200 day simple moving average is $3.35.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Metagenomi in the 3rd quarter valued at $33,000. Geode Capital Management LLC raised its holdings 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 valued at $734,000 after buying an additional 173,796 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Metagenomi by 209.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 136,624 shares of the company’s stock worth $296,000 after acquiring an additional 92,468 shares in the last quarter. Verition Fund Management LLC purchased a new position in Metagenomi in the 3rd quarter worth approximately $82,000. Finally, BNP Paribas Financial Markets grew its position in Metagenomi by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock valued at $28,000 after acquiring an additional 7,256 shares in 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.