Metagenomi (NASDAQ:MGX) Receives “Buy” Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Metagenomi (NASDAQ:MGX) in a research report sent to investors on Wednesday,Benzinga reports. Chardan Capital currently has a $15.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Metagenomi in a research report on Tuesday, October 15th. BMO Capital Markets lowered their price objective on Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Metagenomi Stock Performance

Shares of MGX stock opened at $1.89 on Wednesday. The firm has a fifty day simple moving average of $2.08 and a two-hundred day simple moving average of $3.74. Metagenomi has a 12 month low of $1.61 and a 12 month high of $12.74.

Hedge Funds Weigh In On Metagenomi

Several hedge funds have recently modified their holdings of MGX. Rhumbline Advisers bought a new stake in shares of Metagenomi during the 2nd quarter worth $26,000. BNP Paribas Financial Markets increased its holdings in Metagenomi by 130.9% during the third quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock worth $28,000 after buying an additional 7,256 shares during the last quarter. Virtu Financial LLC bought a new stake in Metagenomi in the third quarter worth about $33,000. XTX Topco Ltd purchased a new position in Metagenomi in the second quarter valued at about $66,000. Finally, Green Alpha Advisors LLC bought a new position in shares of Metagenomi during the 3rd quarter valued at approximately $69,000.

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.