RA Capital Management L.P. Cuts Holdings in Metagenomi, Inc. (NASDAQ:MGX)

RA Capital Management L.P. trimmed its stake in Metagenomi, Inc. (NASDAQ:MGX) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,305,239 shares of the company’s stock after selling 172,510 shares during the quarter. RA Capital Management L.P. owned approximately 3.49% of Metagenomi worth $2,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in shares of Metagenomi in the second quarter valued at approximately $26,000. BNP Paribas Financial Markets increased its holdings in shares of Metagenomi by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock worth $28,000 after buying an additional 7,256 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Metagenomi in the 2nd quarter worth $66,000. Resolute Advisors LLC increased its holdings in shares of Metagenomi by 165.0% in the 2nd quarter. Resolute Advisors LLC now owns 26,500 shares of the company’s stock worth $108,000 after buying an additional 16,500 shares during the last quarter. Finally, Green Alpha Advisors LLC purchased a new stake in shares of Metagenomi in the 3rd quarter valued at $69,000.

Metagenomi Stock Performance

NASDAQ:MGX opened at $1.86 on Thursday. The firm has a 50-day simple moving average of $1.99 and a two-hundred day simple moving average of $3.42. Metagenomi, Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $12.74.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Metagenomi in a research report on Thursday, November 21st. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Metagenomi in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

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.