Metagenomi, Inc. (NASDAQ:MGX) Receives $21.40 Average Price Target from Brokerages

Metagenomi, Inc. (NASDAQ:MGX) has been given an average recommendation of “Buy” by the six brokerages that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.40.

Several research analysts recently issued reports on MGX shares. BMO Capital Markets started coverage on Metagenomi in a research report on Tuesday, March 5th. They set an “outperform” rating and a $22.00 target price for the company. Jefferies Financial Group started coverage on Metagenomi in a research report on Tuesday, March 5th. They set a “buy” rating and a $23.00 target price for the company. JPMorgan Chase & Co. started coverage on Metagenomi in a research report on Tuesday, March 5th. They set an “overweight” rating and a $16.00 target price for the company. TD Cowen initiated coverage on Metagenomi in a research report on Tuesday, March 5th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company initiated coverage on Metagenomi in a research report on Tuesday, March 5th. They issued an “overweight” rating and a $25.00 price objective for the company.

Metagenomi Price Performance

Shares of NASDAQ:MGX opened at $7.53 on Wednesday. Metagenomi has a 12-month low of $6.50 and a 12-month high of $12.74. The stock’s fifty day moving average is $10.35.

Insider Transactions at Metagenomi

In other news, major shareholder Holdings A/S Novo bought 800,000 shares of Metagenomi stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $12,000,000.00. Following the purchase, the insider now directly owns 1,739,175 shares in the company, valued at approximately $26,087,625. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.