Metagenomi (NASDAQ:MGX) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Metagenomi (NASDAQ:MGX) in a research report released on Friday morning, Benzinga reports. They currently have a $7.00 target price on the stock.

A number of other equities research analysts have also recently commented on the company. Chardan Capital reaffirmed a buy rating and set a $15.00 price objective on shares of Metagenomi in a research note on Thursday, September 5th. BMO Capital Markets decreased their target price on Metagenomi from $22.00 to $17.00 and set an outperform rating for the company in a research report on Thursday, August 15th. One research 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 stock currently has a consensus rating of Moderate Buy and an average price target of $15.50.

Metagenomi Stock Up 6.6 %

Shares of NASDAQ MGX opened at $2.90 on Friday. The firm’s 50-day moving average is $3.78 and its 200-day moving average is $6.62. Metagenomi has a 1 year low of $2.63 and a 1 year high of $12.74.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.30. The business had revenue of $20.01 million during the quarter, compared to the consensus estimate of $14.80 million. As a group, analysts predict that Metagenomi will post -3.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Metagenomi

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. acquired a new stake in shares of Metagenomi during the first quarter worth $1,894,000. XTX Topco Ltd bought a new position in Metagenomi during the 2nd quarter worth about $66,000. Rhumbline Advisers bought a new position in Metagenomi during the 2nd quarter worth about $26,000. Novo Holdings A S raised its stake in shares of Metagenomi by 3.5% in 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 period. Finally, Resolute Advisors LLC lifted its holdings 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 in the last quarter.

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.