HC Wainwright Reiterates Buy Rating for Metagenomi (NASDAQ:MGX)

HC Wainwright reissued their buy rating on shares of Metagenomi (NASDAQ:MGX) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $7.00 price target on the stock.

A number of other analysts have also recently issued reports on MGX. Chardan Capital reissued a buy rating and set a $15.00 price objective on shares of Metagenomi in a research report on Thursday, September 5th. BMO Capital Markets reduced their target price 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Metagenomi currently has a consensus rating of Moderate Buy and a consensus target price of $15.50.

Metagenomi Price Performance

NASDAQ:MGX opened at $2.90 on Friday. The business’s fifty day moving average price is $3.78 and its 200 day moving average price is $6.62. Metagenomi has a 1-year low of $2.63 and a 1-year high of $12.74.

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

Hedge Funds Weigh In On Metagenomi

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers acquired a new stake in shares of Metagenomi during the 2nd quarter valued at about $26,000. XTX Topco Ltd acquired a new position in Metagenomi in the second quarter valued at about $66,000. Resolute Advisors LLC acquired a new position in Metagenomi in the first quarter valued at about $106,000. Altitude Crest Partners Inc. bought a new stake in Metagenomi during the 1st quarter worth approximately $1,407,000. Finally, Vanguard Group Inc. bought a new position in Metagenomi in the 1st quarter valued at $1,894,000.

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.