Metagenomi, Inc. (NASDAQ:MGX) Receives Average Recommendation of “Buy” from Brokerages

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

MGX has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Metagenomi in a research report on Tuesday, March 5th. They set a “buy” rating and a $23.00 target price for the company. BMO Capital Markets initiated coverage on Metagenomi in a research report on Tuesday, March 5th. They issued an “outperform” rating and a $22.00 price target for the company. TD Cowen initiated coverage on Metagenomi in a research report on Tuesday, March 5th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. initiated coverage on Metagenomi in a research report on Tuesday, March 5th. They issued an “overweight” rating and a $16.00 price target for the company. Finally, Wells Fargo & Company initiated coverage on Metagenomi in a research report on Tuesday, March 5th. They issued an “overweight” rating and a $25.00 price target for the company.

Insider Transactions at Metagenomi

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

Metagenomi Price Performance

Shares of NASDAQ MGX opened at $7.03 on Wednesday. The firm’s fifty day moving average price is $10.67. Metagenomi has a twelve month low of $6.50 and a twelve month high of $12.74.

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.