Metagenomi, Inc. (NASDAQ:MGX) Receives $16.67 Average Price Target from Brokerages

Metagenomi, Inc. (NASDAQ:MGX) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.67.

A number of equities research analysts recently issued reports on the company. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Metagenomi in a research note on Wednesday, November 20th. HC Wainwright lifted their target price on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

Metagenomi Price Performance

Metagenomi stock opened at $3.62 on Monday. Metagenomi has a 1-year low of $1.61 and a 1-year high of $12.74. The company’s 50-day moving average is $2.67 and its 200 day moving average is $3.01.

Hedge Funds Weigh In On Metagenomi

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers bought a new position in Metagenomi during the 2nd quarter worth about $26,000. BNP Paribas Financial Markets lifted its position in shares of Metagenomi by 130.9% in 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 period. Virtu Financial LLC bought a new position in shares of Metagenomi during the third quarter valued at approximately $33,000. XTX Topco Ltd bought a new position in shares of Metagenomi during the second quarter valued at approximately $66,000. Finally, Green Alpha Advisors LLC purchased a new position in Metagenomi during the third quarter valued at approximately $69,000.

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.