Brokerages Set Metagenomi, Inc. (NASDAQ:MGX) Price Target at $16.67

Metagenomi, Inc. (NASDAQ:MGX) has been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $16.67.

Several brokerages have issued reports on MGX. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Metagenomi in a research note on Wednesday, November 20th. HC Wainwright lifted their target price on shares of Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th.

Metagenomi Stock Performance

Shares of MGX stock opened at $2.97 on Friday. Metagenomi has a 1 year low of $1.61 and a 1 year high of $12.74. The firm’s fifty day moving average price is $2.95 and its two-hundred day moving average price is $2.89.

Institutional Trading of Metagenomi

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Metagenomi by 105.8% in 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 in the last quarter. 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 purchasing an additional 92,468 shares during the last quarter. Fortitude Advisory Group L.L.C. acquired a new stake in Metagenomi during the 4th quarter worth approximately $273,000. Spire Wealth Management bought a new stake in Metagenomi during the 4th quarter worth approximately $267,000. Finally, Novo Holdings A S increased its position in Metagenomi by 3.5% in the 2nd quarter. Novo Holdings A S now owns 1,800,000 shares of the company’s stock valued at $7,344,000 after acquiring an additional 60,825 shares during the period.

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.