Metagenomi (NASDAQ:MGX) Research Coverage Started at HC Wainwright

Stock analysts at HC Wainwright initiated coverage on shares of Metagenomi (NASDAQ:MGX) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 54.56% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company began coverage on shares of Metagenomi in a report on Tuesday, March 5th. They issued an “overweight” rating and a $25.00 target price on the stock. TD Cowen started coverage on shares of Metagenomi in a research note on Tuesday, March 5th. They set an “outperform” rating for the company. JPMorgan Chase & Co. cut Metagenomi from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $6.00 in a research note on Thursday, May 2nd. Chardan Capital reaffirmed a “buy” rating and set a $21.00 price target on shares of Metagenomi in a research report on Thursday, March 28th. Finally, Jefferies Financial Group began coverage on Metagenomi in a report on Tuesday, March 5th. They issued a “buy” rating and a $23.00 price objective for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.83.

Metagenomi Price Performance

Metagenomi stock opened at $6.47 on Tuesday. The business’s 50-day simple moving average is $9.76. Metagenomi has a 52 week low of $5.50 and a 52 week high of $12.74.

Insider Buying and Selling at Metagenomi

In related news, major shareholder Holdings A/S Novo bought 800,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 1,739,175 shares in the company, valued at $26,087,625. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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.