Brokerages Set Metagenomi, Inc. (NASDAQ:MGX) Price Target at $16.67

Shares of Metagenomi, Inc. (NASDAQ:MGX) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $16.67.

Several research analysts have commented on MGX shares. Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Metagenomi in a research note on Wednesday, November 20th. HC Wainwright boosted their target price on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in Metagenomi by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock valued at $28,000 after purchasing an additional 7,256 shares during the period. Virtu Financial LLC bought a new stake in shares of Metagenomi in the 3rd quarter valued at about $33,000. Voya Investment Management LLC acquired a new stake in shares of Metagenomi in the fourth quarter valued at about $37,000. Price T Rowe Associates Inc. MD bought a new position in shares of Metagenomi during the fourth quarter worth about $39,000. Finally, SG Americas Securities LLC bought a new position in shares of Metagenomi during the fourth quarter worth about $43,000.

Metagenomi Price Performance

Shares of NASDAQ MGX opened at $2.33 on Tuesday. Metagenomi has a 12 month low of $1.61 and a 12 month high of $12.50. The stock has a 50-day moving average price of $2.99 and a two-hundred day moving average price of $2.62.

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.