Metagenomi, Inc. (NASDAQ:MGX) Receives $16.67 Consensus Target Price from Brokerages

Shares of Metagenomi, Inc. (NASDAQ:MGX) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.67.

Several equities research analysts have weighed in on MGX shares. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Metagenomi in a research note on Wednesday, November 20th. HC Wainwright lifted their price target on shares of Metagenomi from $7.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MGX. Norges Bank acquired a new position in shares of Metagenomi during the fourth quarter valued at about $1,300,000. Peapod Lane Capital LLC bought a new stake in Metagenomi in the 4th quarter worth about $1,268,000. Geode Capital Management LLC grew its position in Metagenomi by 73.8% in the 4th quarter. Geode Capital Management LLC now owns 587,421 shares of the company’s stock worth $2,121,000 after purchasing an additional 249,390 shares in the last quarter. Northern Trust Corp grew its position in Metagenomi by 185.6% in the 4th quarter. Northern Trust Corp now owns 223,934 shares of the company’s stock worth $808,000 after purchasing an additional 145,536 shares in the last quarter. Finally, Good Life Advisors LLC bought a new stake in Metagenomi in the 4th quarter worth about $451,000.

Metagenomi Stock Down 3.3 %

MGX opened at $2.36 on Tuesday. Metagenomi has a 1-year low of $1.61 and a 1-year high of $12.50. The company has a fifty day moving average price of $3.01 and a two-hundred day moving average price of $2.64.

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.