BMO Capital Markets Cuts Metagenomi (NASDAQ:MGX) Price Target to $17.00

Metagenomi (NASDAQ:MGX) had its price objective lowered by BMO Capital Markets from $22.00 to $17.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

MGX has been the subject of a number of other research reports. JPMorgan Chase & Co. downgraded shares of Metagenomi from an overweight rating to a neutral rating and decreased their price objective for the company from $16.00 to $6.00 in a research report on Thursday, May 2nd. HC Wainwright reiterated a buy rating and set a $10.00 price target on shares of Metagenomi in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $17.00.

Metagenomi Price Performance

Shares of NASDAQ MGX opened at $2.82 on Thursday. The firm has a 50-day moving average of $4.24. Metagenomi has a fifty-two week low of $2.76 and a fifty-two week high of $12.74.

Institutional Inflows and Outflows

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

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.