Metagenomi (NASDAQ:MGX) Price Target Cut to $20.00 by Analysts at Wells Fargo & Company

Metagenomi (NASDAQ:MGX) had its price objective reduced by equities research analysts at Wells Fargo & Company from $25.00 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. HC Wainwright increased their target price on shares of Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Chardan Capital reiterated a “buy” rating and set a $15.00 price objective on shares of Metagenomi in a report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.40.

Metagenomi Trading Down 3.1 %

Shares of MGX stock opened at $1.88 on Tuesday. Metagenomi has a 1-year low of $1.61 and a 1-year high of $11.86. The stock’s fifty day simple moving average is $2.49 and its 200-day simple moving average is $2.51.

Metagenomi (NASDAQ:MGX) last released its earnings results on Monday, March 17th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%. During the same period in the previous year, the firm posted ($20.05) EPS. Equities analysts predict that Metagenomi will post -2.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in Metagenomi by 130.9% in 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 bought a new position in Metagenomi during the third quarter valued at about $33,000. Voya Investment Management LLC acquired a new stake in shares of Metagenomi in the fourth quarter worth about $37,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Metagenomi during the 4th quarter worth about $39,000. Finally, SG Americas Securities LLC bought a new stake in shares of Metagenomi during the 4th quarter worth about $43,000.

About Metagenomi

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.