Metagenomi’s (MGX) Buy Rating Reiterated at Chardan Capital

Chardan Capital restated their buy rating on shares of Metagenomi (NASDAQ:MGX) in a report issued on Wednesday morning,Benzinga reports. They currently have a $15.00 price target on the stock.

Other analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Metagenomi in a report on Tuesday, October 15th. BMO Capital Markets decreased their price target on Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Metagenomi Price Performance

MGX opened at $1.89 on Wednesday. Metagenomi has a fifty-two week low of $1.61 and a fifty-two week high of $12.74. The company’s 50 day moving average price is $2.08 and its two-hundred day moving average price is $3.74.

Institutional Investors Weigh In On Metagenomi

Several institutional investors and hedge funds have recently made changes to their positions in MGX. Rhumbline Advisers acquired a new position in Metagenomi in the second quarter valued at approximately $26,000. BNP Paribas Financial Markets lifted its position in shares of Metagenomi by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock valued at $28,000 after acquiring an additional 7,256 shares during the period. Virtu Financial LLC bought a new position in Metagenomi during the third quarter worth $33,000. XTX Topco Ltd acquired a new stake in Metagenomi in the second quarter worth $66,000. Finally, Resolute Advisors LLC increased its stake in 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.

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.