Metagenomi, Inc. (NASDAQ:MGX) Short Interest Up 445.1% in December

Metagenomi, Inc. (NASDAQ:MGX - Get Free Report) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,480,000 shares, an increase of 445.1% from the November 30th total of 271,500 shares. Currently, 7.9% of the company's shares are short sold. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On Metagenomi

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers purchased a new position in Metagenomi during the 2nd quarter valued at about $26,000. BNP Paribas Financial Markets raised its stake in Metagenomi by 130.9% in 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 during the last quarter. Virtu Financial LLC acquired a new stake in Metagenomi during the third quarter worth approximately $33,000. XTX Topco Ltd acquired a new stake in shares of Metagenomi during the second quarter worth $66,000. Finally, Resolute Advisors LLC grew its position in shares of Metagenomi by 165.0% in the second quarter. Resolute Advisors LLC now owns 26,500 shares of the company's stock valued at $108,000 after purchasing an additional 16,500 shares during the period.

Analysts Set New Price Targets

MGX has been the topic of a number of recent research reports. Chardan Capital restated a "buy" rating and issued a $15.00 price objective on shares of Metagenomi in a report on Wednesday, November 20th. HC Wainwright lifted their price target on shares of Metagenomi from $7.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $16.67.

Metagenomi Price Performance

MGX traded up $0.26 during trading on Thursday, reaching $4.03. The company's stock had a trading volume of 1,006,282 shares, compared to its average volume of 615,480. The company's fifty day moving average price is $2.43 and its 200-day moving average price is $3.10. Metagenomi has a 52-week low of $1.61 and a 52-week high of $12.74.

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.