Metagenomi, Inc. (NASDAQ:MGX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Metagenomi, Inc. (NASDAQ:MGXGet Free Report) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $17.83.

MGX has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Metagenomi in a research note on Tuesday, March 5th. They set a “buy” rating and a $23.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of Metagenomi from an “overweight” rating to a “neutral” rating and cut their target price for the company from $16.00 to $6.00 in a research note on Thursday, May 2nd. Chardan Capital reaffirmed a “buy” rating and issued a $21.00 price target on shares of Metagenomi in a research note on Thursday, March 28th. BMO Capital Markets started coverage on shares of Metagenomi in a research note on Tuesday, March 5th. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, TD Cowen started coverage on shares of Metagenomi in a research note on Tuesday, March 5th. They issued an “outperform” rating on the stock.

Check Out Our Latest Stock Analysis on Metagenomi

Metagenomi Stock Performance

Shares of NASDAQ:MGX opened at $3.88 on Thursday. The firm’s fifty day moving average price is $6.72. Metagenomi has a 12-month low of $3.80 and a 12-month high of $12.74.

Metagenomi (NASDAQ:MGXGet Free Report) last announced its earnings results on Tuesday, May 14th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.24). The business had revenue of $11.16 million for the quarter, compared to the consensus estimate of $8.30 million. On average, sell-side analysts forecast that Metagenomi will post -3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Metagenomi

Several hedge funds have recently bought and sold shares of MGX. Resolute Advisors LLC acquired a new position in Metagenomi during the first quarter worth $106,000. Vanguard Group Inc. acquired a new position in Metagenomi during the first quarter worth $1,894,000. Altitude Crest Partners Inc. acquired a new position in Metagenomi during the first quarter worth $1,407,000. Hhlr Advisors LTD. acquired a new position in Metagenomi during the first quarter worth $8,205,000. Finally, Artal Group S.A. acquired a new position in Metagenomi during the first quarter worth $3,165,000.

About Metagenomi

(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.

Further Reading

Analyst Recommendations for Metagenomi (NASDAQ:MGX)

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