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

Metagenomi, Inc. (NASDAQ:MGX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $15.50.

Several equities analysts have commented on MGX shares. BMO Capital Markets cut their price objective on Metagenomi from $22.00 to $17.00 and set an "outperform" rating on the stock in a research report on Thursday, August 15th. Chardan Capital reissued a "buy" rating and issued a $15.00 price objective on shares of Metagenomi in a research note on Thursday, September 5th. Finally, HC Wainwright reissued a "buy" rating and set a $7.00 price target on shares of Metagenomi in a research report on Tuesday, October 15th.

Metagenomi Stock Performance

NASDAQ:MGX traded down $0.02 during mid-day trading on Friday, hitting $2.02. 345,330 shares of the stock traded hands, compared to its average volume of 286,073. Metagenomi has a 52 week low of $1.85 and a 52 week high of $12.74. The firm's 50 day moving average is $2.25 and its two-hundred day moving average is $4.04.

Metagenomi (NASDAQ:MGX - Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.59) by $0.30. The business had revenue of $20.01 million for the quarter, compared to the consensus estimate of $14.80 million. Research analysts predict that Metagenomi will post -3.04 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. purchased a new stake in Metagenomi during the 1st quarter worth approximately $1,894,000. Green Alpha Advisors LLC purchased a new stake in Metagenomi during the 3rd quarter valued at about $69,000. Rhumbline Advisers purchased a new stake in Metagenomi during the 2nd quarter valued at about $26,000. Novo Holdings A S grew its stake in Metagenomi by 3.5% during the 2nd quarter. Novo Holdings A S now owns 1,800,000 shares of the company's stock valued at $7,344,000 after purchasing an additional 60,825 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Metagenomi during the 2nd quarter valued at about $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.