Brokerages Set Metagenomi, Inc. (NASDAQ:MGX) PT at $15.50

Metagenomi, Inc. (NASDAQ:MGX) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $15.50.

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

Metagenomi Price Performance

NASDAQ:MGX opened at $1.82 on Friday. Metagenomi has a 1-year low of $1.81 and a 1-year high of $12.74. The business’s 50-day moving average price is $2.16 and its two-hundred day moving average price is $3.88.

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

Hedge Funds Weigh In On Metagenomi

A number of large investors have recently added to or reduced their stakes in the company. Novo Holdings A S lifted its holdings in shares of Metagenomi by 3.5% in the second 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 in the last quarter. RA Capital Management L.P. bought a new stake in Metagenomi in the 1st quarter valued at approximately $18,404,000. Farallon Capital Management LLC acquired a new position in Metagenomi during the 1st quarter worth approximately $14,171,000. Hhlr Advisors LTD. bought a new position in shares of Metagenomi during the 1st quarter worth approximately $8,205,000. Finally, Geode Capital Management LLC raised its holdings in shares of Metagenomi by 105.8% in the third quarter. Geode Capital Management LLC now owns 338,031 shares of the company’s stock valued at $734,000 after purchasing an additional 173,796 shares during 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.