Metagenomi’s (MGX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Metagenomi (NASDAQ:MGX) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $7.00 target price on the stock.

Several other research firms also recently commented on MGX. Chardan Capital reissued a “buy” rating and issued a $15.00 target price on shares of Metagenomi in a research report on Wednesday. BMO Capital Markets reduced 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Metagenomi Trading Up 3.8 %

Shares of Metagenomi stock opened at $1.89 on Thursday. The stock has a 50-day simple moving average of $2.06 and a 200-day simple moving average of $3.71. Metagenomi has a 52-week low of $1.61 and a 52-week high of $12.74.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers acquired a new position in shares of Metagenomi during the second quarter worth approximately $26,000. BNP Paribas Financial Markets raised its stake in Metagenomi by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock valued at $28,000 after purchasing an additional 7,256 shares during the last quarter. Virtu Financial LLC bought a new stake in Metagenomi in the 3rd quarter valued at $33,000. XTX Topco Ltd acquired a new stake in Metagenomi in the 2nd quarter worth $66,000. Finally, Resolute Advisors LLC increased its holdings in shares of Metagenomi by 165.0% during the 2nd quarter. Resolute Advisors LLC now owns 26,500 shares of the company’s stock worth $108,000 after purchasing an additional 16,500 shares during the period.

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.