Metagenomi’s (MGX) Buy Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Metagenomi (NASDAQ:MGX) in a research note published on Thursday, Benzinga reports. Chardan Capital currently has a $15.00 price objective on the stock.

A number of other research analysts also recently issued reports on MGX. HC Wainwright dropped their target price on shares of Metagenomi from $10.00 to $7.00 and set a buy rating on the stock in a research report on Wednesday, August 21st. BMO Capital Markets dropped their price objective on shares of Metagenomi from $22.00 to $17.00 and set an outperform rating on the stock in a report 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. According to MarketBeat.com, Metagenomi has an average rating of Moderate Buy and a consensus price target of $15.50.

Metagenomi Price Performance

MGX opened at $2.72 on Thursday. The company’s 50 day moving average price is $3.78 and its two-hundred day moving average price is $6.66. Metagenomi has a fifty-two week low of $2.63 and a fifty-two week high of $12.74.

Metagenomi (NASDAQ:MGX) last issued its earnings results on Wednesday, August 14th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.30. The business had revenue of $20.01 million during the quarter, compared to the consensus estimate of $14.80 million. Equities research analysts predict that Metagenomi will post -3.04 EPS for the current year.

Institutional Investors Weigh In On Metagenomi

Several hedge funds and other institutional investors have recently made changes to their positions in MGX. Vanguard Group Inc. bought a new position in Metagenomi in the 1st quarter valued at about $1,894,000. XTX Topco Ltd purchased a new stake in shares of Metagenomi in the second quarter worth approximately $66,000. Rhumbline Advisers bought a new position in shares of Metagenomi in the second quarter valued at approximately $26,000. Novo Holdings A S boosted its position in shares of Metagenomi by 3.5% during the second quarter. Novo Holdings A S now owns 1,800,000 shares of the company’s stock valued at $7,344,000 after buying an additional 60,825 shares during the last quarter. Finally, Resolute Advisors LLC grew its holdings in Metagenomi by 165.0% during the second quarter. Resolute Advisors LLC now owns 26,500 shares of the company’s stock worth $108,000 after buying an additional 16,500 shares in the last quarter.

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.