Short Interest in Metagenomi, Inc. (NASDAQ:MGX) Rises By 21.7%

Metagenomi, Inc. (NASDAQ:MGX) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,640,000 shares, a growth of 21.7% from the January 15th total of 2,170,000 shares. Approximately 14.1% of the company’s shares are sold short. Based on an average daily volume of 2,300,000 shares, the short-interest ratio is currently 1.1 days.

Analyst Ratings Changes

MGX has been the subject of several recent research reports. HC Wainwright boosted their price target on shares of Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Chardan Capital restated a “buy” rating and issued a $15.00 price objective on shares of Metagenomi in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.67.

Metagenomi Price Performance

Shares of NASDAQ MGX traded up $0.16 during midday trading on Monday, hitting $2.61. 977,060 shares of the company traded hands, compared to its average volume of 1,786,459. Metagenomi has a 12-month low of $1.61 and a 12-month high of $12.74. The stock has a 50-day moving average price of $3.15 and a 200 day moving average price of $2.67.

Hedge Funds Weigh In On Metagenomi

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in Metagenomi by 130.9% during the third quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock worth $28,000 after acquiring an additional 7,256 shares in the last quarter. Virtu Financial LLC bought a new stake in Metagenomi during the third quarter worth about $33,000. Voya Investment Management LLC bought a new stake in Metagenomi during the fourth quarter worth about $37,000. Price T Rowe Associates Inc. MD bought a new stake in Metagenomi during the fourth quarter worth about $39,000. Finally, SG Americas Securities LLC bought a new stake in Metagenomi during the fourth quarter worth about $43,000.

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.