Metagenomi (NASDAQ:MGX) Price Target Cut to $17.00

Metagenomi (NASDAQ:MGX) had its price target cut by BMO Capital Markets from $22.00 to $17.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. lowered Metagenomi from an overweight rating to a neutral rating and decreased their price target for the company from $16.00 to $6.00 in a research note on Thursday, May 2nd. HC Wainwright reissued a buy rating and issued a $10.00 price target on shares of Metagenomi in a research note on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $17.00.

Metagenomi Price Performance

Shares of NASDAQ MGX opened at $2.82 on Thursday. The business’s 50 day moving average price is $4.24. Metagenomi has a 1 year low of $2.76 and a 1 year high of $12.74.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in Metagenomi during the 2nd quarter worth about $66,000. Resolute Advisors LLC grew its position in shares of 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. Rhumbline Advisers purchased a new stake in shares of Metagenomi during the second quarter worth approximately $26,000. Farallon Capital Management LLC acquired a new stake in Metagenomi in the first quarter valued at approximately $14,171,000. Finally, RA Capital Management L.P. acquired a new stake in Metagenomi in the first quarter valued at approximately $18,404,000.

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.