Metagenomi, Inc. (NASDAQ:MGX) Receives $21.40 Consensus Target Price from Analysts

Metagenomi, Inc. (NASDAQ:MGX) has been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $21.40.

A number of research analysts have recently commented on MGX shares. BMO Capital Markets started coverage on Metagenomi in a report on Tuesday, March 5th. They set an “outperform” rating and a $22.00 price objective on the stock. 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. Wells Fargo & Company started coverage on Metagenomi in a report on Tuesday, March 5th. They set an “overweight” rating and a $25.00 price objective on the stock. TD Cowen started coverage on Metagenomi in a report on Tuesday, March 5th. They set an “outperform” rating on the stock. Finally, Chardan Capital reissued a “buy” rating and set a $21.00 price objective on shares of Metagenomi in a report on Thursday, March 28th.

Metagenomi Price Performance

MGX opened at $7.53 on Wednesday. The business’s 50-day moving average price is $10.35. Metagenomi has a fifty-two week low of $6.50 and a fifty-two week high of $12.74.

Insider Buying and Selling at Metagenomi

In other news, major shareholder Holdings A/S Novo acquired 800,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were bought at an average price of $15.00 per share, with a total value of $12,000,000.00. Following the acquisition, the insider now owns 1,739,175 shares of the company’s stock, valued at $26,087,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.