HC Wainwright Reaffirms “Buy” Rating for Metagenomi (NASDAQ:MGX)

HC Wainwright reissued their buy rating on shares of Metagenomi (NASDAQ:MGX) in a research report report published on Monday morning, Benzinga reports. The firm currently has a $10.00 target price on the stock.

MGX has been the subject of a number of other research reports. Chardan Capital reissued a buy rating and set a $21.00 price target on shares of Metagenomi in a research report on Thursday, March 28th. JPMorgan Chase & Co. downgraded Metagenomi from an overweight rating to a neutral rating and lowered their price target for the company from $16.00 to $6.00 in a research report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Metagenomi currently has an average rating of Moderate Buy and a consensus target price of $17.83.

Metagenomi Stock Down 7.9 %

Metagenomi stock opened at $4.77 on Monday. The firm has a fifty day simple moving average of $5.48. Metagenomi has a 52 week low of $3.34 and a 52 week high of $12.74.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.24). The business had revenue of $11.16 million during the quarter, compared to analysts’ expectations of $8.30 million. Research analysts predict that Metagenomi will post -3.22 EPS for the current year.

Institutional Investors Weigh In On Metagenomi

Several institutional investors and hedge funds have recently modified their holdings of MGX. RA Capital Management L.P. purchased a new stake in shares of Metagenomi in the first quarter worth about $18,404,000. Farallon Capital Management LLC purchased a new position in Metagenomi in the first quarter valued at about $14,171,000. Hhlr Advisors LTD. purchased a new position in Metagenomi in the first quarter valued at about $8,205,000. Artal Group S.A. purchased a new position in Metagenomi in the first quarter valued at about $3,165,000. Finally, Vanguard Group Inc. purchased a new position in Metagenomi in the first quarter valued at about $1,894,000.

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.