Brokerages Set Metagenomi, Inc. (NASDAQ:MGX) Price Target at $16.67

Shares of Metagenomi, Inc. (NASDAQ:MGX) have earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $16.67.

Several research analysts recently issued reports on the company. HC Wainwright lifted their price objective on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Metagenomi in a research note on Wednesday, November 20th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MGX. Spire Wealth Management acquired a new stake in Metagenomi during the fourth quarter worth about $267,000. Fortitude Advisory Group L.L.C. purchased a new stake in shares of Metagenomi during the 4th quarter worth about $273,000. SG Americas Securities LLC purchased a new position in Metagenomi in the fourth quarter valued at approximately $43,000. Marquette Asset Management LLC purchased a new stake in Metagenomi during the fourth quarter worth approximately $184,000. Finally, Virtu Financial LLC acquired a new stake in shares of Metagenomi in the third quarter worth $33,000.

Metagenomi Stock Performance

Shares of Metagenomi stock opened at $2.76 on Friday. Metagenomi has a 1 year low of $1.61 and a 1 year high of $12.74. The business has a 50 day moving average price of $2.99 and a 200 day moving average price of $2.86.

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.