Brokerages Set Metagenomi, Inc. (NASDAQ:MGX) Price Target at $10.00

Metagenomi, Inc. (NASDAQ:MGX) has earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $10.00.

A number of research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Metagenomi in a research note on Tuesday, August 19th. Zacks Research raised Metagenomi from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Wall Street Zen upgraded Metagenomi from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Metagenomi in a research report on Monday.

Metagenomi Stock Performance

Metagenomi stock opened at $1.71 on Wednesday. The company’s fifty day moving average price is $2.21 and its 200 day moving average price is $2.04. Metagenomi has a 1 year low of $1.23 and a 1 year high of $4.40. The stock has a market capitalization of $64.18 million, a P/E ratio of -0.71 and a beta of 0.49.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.05. Metagenomi had a negative net margin of 287.06% and a negative return on equity of 43.19%. The company had revenue of $8.66 million during the quarter, compared to analysts’ expectations of $7.82 million. Sell-side analysts predict that Metagenomi will post -2.46 EPS for the current year.

Institutional Investors Weigh In On Metagenomi

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of Metagenomi by 508.5% in the third quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock worth $44,000 after buying an additional 15,682 shares in the last quarter. Man Group plc acquired a new stake in Metagenomi in the 3rd quarter valued at about $125,000. Two Sigma Investments LP lifted its stake in Metagenomi by 1,394.4% in the 3rd quarter. Two Sigma Investments LP now owns 207,528 shares of the company’s stock worth $492,000 after purchasing an additional 193,641 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Metagenomi by 98.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 195,800 shares of the company’s stock worth $464,000 after purchasing an additional 97,100 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Metagenomi by 1,840.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock worth $36,000 after purchasing an additional 14,389 shares during 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.