Chardan Capital Cuts Metagenomi (NASDAQ:MGX) Price Target to $11.00

Metagenomi (NASDAQ:MGX) had its price objective cut by Chardan Capital from $12.00 to $11.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company dropped their target price on Metagenomi from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday. Wall Street Zen lowered Metagenomi from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 22nd.

Metagenomi Stock Down 2.1%

Shares of NASDAQ MGX opened at $1.86 on Friday. The business’s 50 day moving average price is $1.89 and its 200 day moving average price is $1.84. The firm has a market cap of $69.81 million, a P/E ratio of -0.79 and a beta of -0.12. Metagenomi has a 52 week low of $1.23 and a 52 week high of $4.92.

Metagenomi (NASDAQ:MGX) last issued its earnings results on Tuesday, August 12th. The company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. The firm had revenue of $8.51 million for the quarter, compared to analyst estimates of $7.72 million. Metagenomi had a negative return on equity of 37.84% and a negative net margin of 257.99%. As a group, research analysts expect that Metagenomi will post -2.46 earnings per share for the current year.

Institutional Investors Weigh In On Metagenomi

Several hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC raised its stake in shares of Metagenomi by 53.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,515 shares of the company’s stock worth $32,000 after buying an additional 7,458 shares during the period. Voya Investment Management LLC acquired a new position in shares of Metagenomi during the 4th quarter worth approximately $37,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Metagenomi during the 4th quarter worth approximately $39,000. Virtu Financial LLC acquired a new position in shares of Metagenomi during the 1st quarter worth approximately $43,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Metagenomi by 338.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,193 shares of the company’s stock worth $55,000 after buying an additional 11,730 shares during the period.

About Metagenomi

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.