Metagenomi (NASDAQ:MGX) Given New $20.00 Price Target at Wells Fargo & Company

Metagenomi (NASDAQ:MGX) had its price target cut by research analysts at Wells Fargo & Company from $25.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock.

Several other research firms also recently commented on MGX. Chardan Capital restated a “buy” rating and set a $15.00 target price on shares of Metagenomi in a research report on Wednesday, November 20th. HC Wainwright raised their target price on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Metagenomi Trading Down 1.2 %

Shares of MGX stock opened at $1.71 on Tuesday. The stock has a 50 day moving average of $2.43 and a two-hundred day moving average of $2.49. Metagenomi has a 12 month low of $1.61 and a 12 month high of $11.86.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). Metagenomi had a negative return on equity of 43.23% and a negative net margin of 134.27%. The firm had revenue of $9.61 million during the quarter, compared to the consensus estimate of $13.18 million. During the same quarter in the prior year, the business posted ($20.05) EPS. On average, equities analysts anticipate that Metagenomi will post -2.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Metagenomi

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in 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 purchasing an additional 7,256 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Metagenomi during the 3rd quarter valued at $82,000. Jacobs Levy Equity Management Inc. increased its holdings in Metagenomi by 209.4% during the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in 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 purchasing an additional 173,796 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Metagenomi during the 3rd quarter valued at $33,000.

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.