Metagenomi’s (MGX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Metagenomi (NASDAQ:MGX) in a research report report published on Thursday,Benzinga reports. HC Wainwright currently has a $7.00 price target on the stock.

A number of other brokerages have also recently issued reports on MGX. BMO Capital Markets reduced their target price on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Metagenomi in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.50.

Metagenomi Price Performance

MGX remained flat at $1.82 during trading on Thursday. The company had a trading volume of 82,837 shares, compared to its average volume of 187,635. The stock has a 50 day simple moving average of $2.08 and a 200 day simple moving average of $3.74. Metagenomi has a twelve month low of $1.61 and a twelve month high of $12.74.

Hedge Funds Weigh In On Metagenomi

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers bought a new position in Metagenomi in the second quarter valued at approximately $26,000. BNP Paribas Financial Markets lifted 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 purchasing an additional 7,256 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Metagenomi in the 3rd quarter valued at $33,000. XTX Topco Ltd bought a new position in shares of Metagenomi in the 2nd quarter valued at $66,000. Finally, Green Alpha Advisors LLC acquired a new position in shares of Metagenomi during the 3rd quarter worth $69,000.

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.