Metagenomi (NASDAQ:MGX) Given “Buy” Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Metagenomi (NASDAQ:MGX) in a research note published on Wednesday morning,Benzinga reports. Chardan Capital currently has a $15.00 price objective on the stock.

Several other equities analysts have also issued reports on the company. BMO Capital Markets reduced their target price on Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Metagenomi in a research note on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Metagenomi presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Metagenomi Stock Performance

Metagenomi stock opened at $1.65 on Wednesday. Metagenomi has a fifty-two week low of $1.61 and a fifty-two week high of $12.74. The firm’s 50-day simple moving average is $2.12 and its 200 day simple moving average is $3.77.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in Metagenomi in the 1st quarter valued at approximately $1,894,000. Green Alpha Advisors LLC bought a new position in shares of Metagenomi in the third quarter worth $69,000. Rhumbline Advisers purchased a new position in shares of Metagenomi in the second quarter valued at $26,000. Novo Holdings A S raised its stake in shares of Metagenomi by 3.5% during the 2nd quarter. Novo Holdings A S now owns 1,800,000 shares of the company’s stock valued at $7,344,000 after purchasing an additional 60,825 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Metagenomi during the 2nd quarter worth about $66,000.

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.