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

Shares of Metagenomi, Inc. (NASDAQ:MGX) have received a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $21.40.

MGX has been the topic of several recent research reports. TD Cowen began coverage on Metagenomi in a research report on Tuesday, March 5th. They issued an “outperform” rating on the stock. BMO Capital Markets assumed coverage on Metagenomi in a research note on Tuesday, March 5th. They issued an “outperform” rating and a $22.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Metagenomi in a research note on Tuesday, March 5th. They set an “overweight” rating and a $16.00 price objective for the company. Wells Fargo & Company assumed coverage on Metagenomi in a research report on Tuesday, March 5th. They issued an “overweight” rating and a $25.00 target price on the stock. Finally, Chardan Capital reiterated a “buy” rating and set a $21.00 target price on shares of Metagenomi in a report on Thursday, March 28th.

Metagenomi Stock Performance

Shares of NASDAQ MGX opened at $7.53 on Wednesday. The stock’s 50-day moving average is $10.35. Metagenomi has a 12-month low of $6.50 and a 12-month high of $12.74.

Insider Buying and Selling at Metagenomi

In related news, major shareholder Holdings A/S Novo acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $10.25 per share, with a total value of $1,025,000.00. Following the completion of the purchase, the insider now directly owns 100,000 shares in the company, valued at $1,025,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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.