Metagenomi, Inc. (NASDAQ:MGX) Given Average Recommendation of “Moderate Buy” by Brokerages

Metagenomi, Inc. (NASDAQ:MGX) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $15.50.

MGX has been the subject of several recent analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Metagenomi in a research note on Thursday, September 5th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Metagenomi in a report on Tuesday, October 15th. Finally, BMO Capital Markets decreased their price objective on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th.

Metagenomi Price Performance

Shares of NASDAQ:MGX opened at $1.88 on Friday. Metagenomi has a 52-week low of $1.85 and a 52-week high of $12.74. The stock’s 50-day simple moving average is $2.20 and its two-hundred day simple moving average is $3.94.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.30. The business had revenue of $20.01 million during the quarter, compared to the consensus estimate of $14.80 million. Equities analysts anticipate that Metagenomi will post -3.04 earnings per share for the current year.

Institutional Trading of Metagenomi

A number of institutional investors have recently modified their holdings of MGX. Verition Fund Management LLC purchased a new position in Metagenomi during the 3rd quarter valued at about $82,000. BNP Paribas Financial Markets increased its stake 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 worth $28,000 after purchasing an additional 7,256 shares in the last quarter. Green Alpha Advisors LLC acquired a new position in shares of Metagenomi during the 3rd quarter worth approximately $69,000. Novo Holdings A S lifted its stake 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 buying an additional 60,825 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Metagenomi in the 2nd quarter valued at approximately $66,000.

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.