Metagenomi, Inc. (NASDAQ:MGX) Given Average Rating of "Moderate Buy" by Brokerages

Metagenomi, Inc. (NASDAQ:MGX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $16.67.

Several equities research analysts have weighed in on the stock. HC Wainwright raised their target price on shares of Metagenomi from $7.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Chardan Capital restated a "buy" rating and issued a $15.00 target price on shares of Metagenomi in a research note on Wednesday, November 20th.

Institutional Investors Weigh In On Metagenomi

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in shares of Metagenomi by 130.9% during the third quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company's stock worth $28,000 after buying an additional 7,256 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Metagenomi during the third quarter worth $82,000. Geode Capital Management LLC raised its holdings in shares of Metagenomi by 105.8% during the third quarter. Geode Capital Management LLC now owns 338,031 shares of the company's stock worth $734,000 after purchasing an additional 173,796 shares during the last quarter. Peapod Lane Capital LLC purchased a new position in shares of Metagenomi during the fourth quarter worth $1,268,000. Finally, Jacobs Levy Equity Management Inc. raised 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.

Metagenomi Stock Performance

Shares of NASDAQ:MGX traded down $0.08 during trading on Tuesday, reaching $2.36. 389,508 shares of the company were exchanged, compared to its average volume of 1,334,841. The business's fifty day simple moving average is $3.03 and its 200-day simple moving average is $2.66. Metagenomi has a 12-month low of $1.61 and a 12-month high of $12.50.

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.