Metagenomi, Inc. (NASDAQ:MGX) Receives $15.50 Consensus Price Target from Analysts

Metagenomi, Inc. (NASDAQ:MGX) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.50.

A number of research analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Metagenomi in a report on Tuesday, October 15th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Metagenomi in a research report on Thursday, September 5th. Finally, BMO Capital Markets lowered their price objective on Metagenomi from $22.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th.

Metagenomi Stock Down 3.2 %

Shares of MGX stock opened at $1.82 on Friday. Metagenomi has a fifty-two week low of $1.81 and a fifty-two week high of $12.74. The stock’s 50-day moving average is $2.16 and its two-hundred day moving average is $3.88.

Metagenomi (NASDAQ:MGX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate 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. On average, research analysts forecast that Metagenomi will post -3.04 EPS for the current year.

Institutional Investors Weigh In On Metagenomi

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers acquired a new stake in shares of Metagenomi during the 2nd quarter valued at about $26,000. BNP Paribas Financial Markets raised its holdings in Metagenomi by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock worth $28,000 after purchasing an additional 7,256 shares during the last quarter. XTX Topco Ltd acquired a new position in Metagenomi during the 2nd quarter valued at about $66,000. Green Alpha Advisors LLC bought a new position in shares of Metagenomi in the 3rd quarter valued at about $69,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Metagenomi during the 3rd quarter worth approximately $82,000.

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.