Metagenomi, Inc. (NASDAQ:MGX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Metagenomi, Inc. (NASDAQ:MGXGet Free Report) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $17.83.

A number of analysts recently commented on MGX shares. JPMorgan Chase & Co. cut Metagenomi from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $6.00 in a research report on Thursday, May 2nd. Wells Fargo & Company started coverage on shares of Metagenomi in a research note on Tuesday, March 5th. They issued an “overweight” rating and a $25.00 price objective on the stock. BMO Capital Markets initiated coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They set an “outperform” rating and a $22.00 target price for the company. TD Cowen began coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They issued an “outperform” rating on the stock. Finally, Chardan Capital reissued a “buy” rating and set a $21.00 price objective on shares of Metagenomi in a research report on Thursday, March 28th.

Check Out Our Latest Analysis on Metagenomi

Hedge Funds Weigh In On Metagenomi

A number of hedge funds have recently modified their holdings of MGX. RA Capital Management L.P. bought a new stake in Metagenomi during the 1st quarter valued at approximately $18,404,000. Artal Group S.A. purchased a new stake in Metagenomi during the 1st quarter valued at approximately $3,165,000. Hhlr Advisors LTD. bought a new stake in shares of Metagenomi during the first quarter valued at approximately $8,205,000. Altitude Crest Partners Inc. bought a new stake in shares of Metagenomi during the first quarter valued at approximately $1,407,000. Finally, Vanguard Group Inc. purchased a new position in shares of Metagenomi in the first quarter worth $1,894,000.

Metagenomi Price Performance

Shares of MGX stock opened at $6.64 on Friday. The business has a 50 day moving average of $8.48. Metagenomi has a 52 week low of $5.50 and a 52 week high of $12.74.

Metagenomi (NASDAQ:MGXGet Free Report) last posted its earnings results on Tuesday, May 14th. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.24). The business had revenue of $11.16 million for the quarter, compared to analyst estimates of $8.30 million. Equities research analysts anticipate that Metagenomi will post -3.22 EPS for the current fiscal year.

Metagenomi Company Profile

(Get Free Report

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.

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Analyst Recommendations for Metagenomi (NASDAQ:MGX)

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