Metagenomi (NASDAQ:MGX) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Metagenomi (NASDAQ:MGX) from an overweight rating to a neutral rating in a research note released on Thursday morning, Marketbeat Ratings reports. They currently have $6.00 target price on the stock, down from their prior target price of $16.00.

Several other equities research analysts have also issued reports on MGX. BMO Capital Markets started coverage on shares of Metagenomi in a report on Tuesday, March 5th. They issued an outperform rating and a $22.00 price target on the stock. TD Cowen initiated coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They issued an outperform rating for the company. 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. Jefferies Financial Group started coverage on Metagenomi in a report on Tuesday, March 5th. They issued a buy rating and a $23.00 target price for the company. Finally, Chardan Capital reaffirmed a buy rating and issued a $21.00 price target on shares of Metagenomi in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $19.40.

Metagenomi Trading Up 2.4 %

Shares of NASDAQ:MGX opened at $6.32 on Thursday. Metagenomi has a 1-year low of $5.50 and a 1-year high of $12.74. The stock’s 50 day moving average price is $9.87.

Insider Buying and Selling at Metagenomi

In other Metagenomi news, major shareholder Holdings A/S Novo bought 800,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $12,000,000.00. Following the completion of the purchase, the insider now owns 1,739,175 shares in the company, valued at approximately $26,087,625. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.