Metagenomi (NASDAQ:MGX) Given Buy Rating at Chardan Capital

Metagenomi (NASDAQ:MGX)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a research note issued on Thursday, Benzinga reports. They presently have a $21.00 price target on the stock. Chardan Capital’s price target points to a potential upside of 89.36% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. started coverage on Metagenomi in a report on Tuesday, March 5th. They set an “overweight” rating and a $16.00 price objective on the stock. TD Cowen initiated coverage on shares of Metagenomi in a research note on Tuesday, March 5th. They issued an “outperform” rating for the company. 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 price objective on the stock. BMO Capital Markets assumed coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They issued an “outperform” rating and a $22.00 target price for the company. Finally, Wells Fargo & Company assumed coverage on Metagenomi in a research note on Tuesday, March 5th. They issued an “overweight” rating and a $25.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $21.40.

Metagenomi Stock Performance

Shares of MGX stock opened at $11.09 on Thursday. Metagenomi has a one year low of $9.74 and a one year high of $12.74.

Insider Buying and Selling

In other news, major shareholder Holdings A/S Novo bought 800,000 shares of Metagenomi stock in a transaction on Tuesday, February 13th. The stock was purchased at an average cost of $15.00 per share, with a total value of $12,000,000.00. Following the purchase, the insider now directly owns 1,739,175 shares of the company’s stock, valued at approximately $26,087,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Metagenomi Company Profile

Metagenomi, Inc, a gene editing biotechnology 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.