HC Wainwright Reaffirms Buy Rating for Metagenomi (NASDAQ:MGX)

HC Wainwright restated their buy rating on shares of Metagenomi (NASDAQ:MGX) in a research report sent to investors on Thursday,Benzinga reports. HC Wainwright currently has a $7.00 target price on the stock.

Several other research analysts have also issued reports on the stock. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of Metagenomi in a research report on Wednesday. BMO Capital Markets dropped their target price on Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.50.

Metagenomi Price Performance

Shares of Metagenomi stock opened at $1.89 on Thursday. The company’s fifty day moving average price is $2.06 and its two-hundred day moving average price is $3.71. Metagenomi has a 52-week low of $1.61 and a 52-week high of $12.74.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. RA Capital Management L.P. acquired a new position in Metagenomi during the 1st quarter worth about $18,404,000. Farallon Capital Management LLC acquired a new position in shares of Metagenomi during the first quarter worth approximately $14,171,000. Artal Group S.A. bought a new stake in shares of Metagenomi during the first quarter valued at approximately $3,165,000. Vanguard Group Inc. acquired a new stake in shares of Metagenomi in the first quarter valued at approximately $1,894,000. Finally, Geode Capital Management LLC raised its position in Metagenomi by 105.8% in the 3rd quarter. Geode Capital Management LLC now owns 338,031 shares of the company’s stock worth $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.