Metagenomi, Inc. (NASDAQ:MGX – Get Free Report) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 217,800 shares, a decline of 23.0% from the August 15th total of 282,900 shares. Based on an average trading volume of 93,400 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.2% of the company’s shares are sold short.
Analysts Set New Price Targets
A number of equities analysts have recently commented on MGX shares. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Metagenomi in a research report on Friday, September 6th. BMO Capital Markets decreased their target price on Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Finally, Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Metagenomi in a report on Thursday, September 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.50.
View Our Latest Research Report on Metagenomi
Hedge Funds Weigh In On Metagenomi
Metagenomi Price Performance
NASDAQ MGX traded up $0.01 during trading on Tuesday, hitting $2.75. The company’s stock had a trading volume of 178,423 shares, compared to its average volume of 122,021. Metagenomi has a fifty-two week low of $2.63 and a fifty-two week high of $12.74. The business’s 50 day simple moving average is $3.61 and its 200-day simple moving average is $6.24.
Metagenomi (NASDAQ:MGX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.30. The company had revenue of $20.01 million for the quarter, compared to analyst estimates of $14.80 million. As a group, equities analysts expect that Metagenomi will post -3.04 EPS for the current fiscal year.
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.
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