Metagenomi, Inc. (NASDAQ:MGX) Given Average Recommendation of “Moderate Buy” by Analysts

Metagenomi, Inc. (NASDAQ:MGX) has earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.83.

A number of brokerages have recently issued reports on MGX. JPMorgan Chase & Co. lowered shares of Metagenomi from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $6.00 in a research note on Thursday, May 2nd. Chardan Capital reiterated a “buy” rating and set a $21.00 target price on shares of Metagenomi in a research report on Thursday, March 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Metagenomi in a report on Wednesday, May 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MGX. Vanguard Group Inc. purchased a new stake in Metagenomi in the 1st quarter valued at approximately $1,894,000. Farallon Capital Management LLC purchased a new stake in shares of Metagenomi in the first quarter valued at $14,171,000. RA Capital Management L.P. acquired a new stake in shares of Metagenomi during the first quarter valued at $18,404,000. Artal Group S.A. acquired a new position in Metagenomi in the 1st quarter valued at about $3,165,000. Finally, Hhlr Advisors LTD. purchased a new position in Metagenomi in the 1st quarter valued at about $8,205,000.

Metagenomi Trading Up 10.8 %

Shares of MGX stock opened at $5.14 on Monday. The company has a 50 day moving average of $5.57. Metagenomi has a twelve month low of $3.34 and a twelve month high of $12.74.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.24). The company had revenue of $11.16 million for the quarter, compared to analysts’ expectations of $8.30 million. On average, equities analysts expect that Metagenomi will post -3.22 EPS for the current year.

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.