Metagenomi (NASDAQ:MGX) Earns Buy Rating from Chardan Capital

Metagenomi (NASDAQ:MGX)‘s stock had its “buy” rating reaffirmed by equities researchers at Chardan Capital in a report released on Wednesday,Benzinga reports. They presently have a $15.00 target price on the stock.

Several other analysts also recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Metagenomi in a report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Metagenomi Price Performance

Shares of NASDAQ:MGX opened at $1.82 on Wednesday. The company’s fifty day moving average is $2.10 and its two-hundred day moving average is $3.75. Metagenomi has a 1-year low of $1.61 and a 1-year high of $12.74.

Hedge Funds Weigh In On Metagenomi

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGX. Rhumbline Advisers acquired a new position in shares of Metagenomi in the 2nd quarter valued at about $26,000. BNP Paribas Financial Markets increased 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 buying an additional 7,256 shares during the period. Virtu Financial LLC acquired a new position in Metagenomi in the 3rd quarter valued at approximately $33,000. XTX Topco Ltd purchased a new stake in Metagenomi in the 2nd quarter worth approximately $66,000. Finally, Resolute Advisors LLC boosted its stake in shares of Metagenomi by 165.0% during the 2nd quarter. Resolute Advisors LLC now owns 26,500 shares of the company’s stock valued at $108,000 after buying an additional 16,500 shares during the period.

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.