Metagenomi, Inc. (NASDAQ:MGX) Receives $15.50 Consensus Price Target from Analysts

Metagenomi, Inc. (NASDAQ:MGX) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings 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 brokers that have updated their coverage on the stock in the last year is $15.50.

MGX has been the subject of several research reports. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Metagenomi in a research report on Thursday, September 5th. BMO Capital Markets dropped their price objective on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Metagenomi in a report on Tuesday, October 15th.

Metagenomi Stock Down 1.5 %

NASDAQ:MGX opened at $1.96 on Wednesday. Metagenomi has a fifty-two week low of $1.85 and a fifty-two week high of $12.74. The company has a 50 day moving average price of $2.57 and a 200 day moving average price of $4.71.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.30. The firm had revenue of $20.01 million for the quarter, compared to analysts’ expectations of $14.80 million. On average, sell-side analysts anticipate that Metagenomi will post -3.04 earnings per share for the current year.

Institutional Investors Weigh In On Metagenomi

A number of large investors have recently modified their holdings of the company. Novo Holdings A S grew its stake in shares of Metagenomi by 3.5% during the second quarter. Novo Holdings A S now owns 1,800,000 shares of the company’s stock worth $7,344,000 after purchasing an additional 60,825 shares in the last quarter. RA Capital Management L.P. acquired a new position in shares of Metagenomi during the 1st quarter worth about $18,404,000. Farallon Capital Management LLC purchased a new position in shares of Metagenomi in the 1st quarter valued at about $14,171,000. Hhlr Advisors LTD. acquired a new stake in shares of Metagenomi during the 1st quarter worth about $8,205,000. Finally, Artal Group S.A. purchased a new stake in Metagenomi during the first quarter worth approximately $3,165,000.

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.