Metagenomi, Inc. (NASDAQ:MGX) Short Interest Up 445.1% in December

Metagenomi, Inc. (NASDAQ:MGX) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,480,000 shares, an increase of 445.1% from the November 30th total of 271,500 shares. Approximately 7.9% of the shares of the company are sold short. Based on an average daily volume of 1,760,000 shares, the short-interest ratio is presently 0.8 days.

Institutional Trading of Metagenomi

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers acquired a new position in shares of Metagenomi during the 2nd quarter valued at $26,000. BNP Paribas Financial Markets lifted its stake in shares of 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 purchasing an additional 7,256 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Metagenomi in the third quarter worth about $33,000. XTX Topco Ltd acquired a new stake in shares of Metagenomi in the second quarter valued at about $66,000. Finally, Resolute Advisors LLC raised its holdings in shares of Metagenomi by 165.0% during the 2nd quarter. Resolute Advisors LLC now owns 26,500 shares of the company’s stock valued at $108,000 after buying an additional 16,500 shares during the period.

Metagenomi Price Performance

MGX stock traded up $0.26 during trading on Thursday, reaching $4.03. 1,006,282 shares of the stock traded hands, compared to its average volume of 615,480. The business’s 50 day moving average price is $2.43 and its 200-day moving average price is $3.10. Metagenomi has a 52-week low of $1.61 and a 52-week high of $12.74.

Analyst Ratings Changes

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

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.