Metagenomi (NASDAQ:MGX) Given New $20.00 Price Target at Wells Fargo & Company

Metagenomi (NASDAQ:MGX) had its target price dropped by equities research analysts at Wells Fargo & Company from $25.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock.

MGX has been the subject of several other reports. Chardan Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of Metagenomi in a report on Wednesday, November 20th. HC Wainwright increased their price target on Metagenomi from $7.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Metagenomi currently has an average rating of “Moderate Buy” and a consensus target price of $14.40.

Metagenomi Stock Performance

MGX opened at $1.88 on Tuesday. The stock’s 50 day moving average price is $2.49 and its 200 day moving average price is $2.51. Metagenomi has a 12 month low of $1.61 and a 12 month high of $11.86.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). Metagenomi had a negative return on equity of 43.23% and a negative net margin of 134.27%. During the same quarter last year, the company posted ($20.05) earnings per share. On average, equities analysts expect that Metagenomi will post -2.46 EPS for the current fiscal year.

Institutional Trading of Metagenomi

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of Metagenomi by 123.3% during the 4th quarter. Rhumbline Advisers now owns 11,998 shares of the company’s stock valued at $43,000 after acquiring an additional 6,626 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Metagenomi by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock valued at $28,000 after purchasing an additional 7,256 shares during the period. Corebridge Financial Inc. increased its stake in Metagenomi by 303.1% in the 4th quarter. Corebridge Financial Inc. now owns 13,602 shares of the company’s stock worth $49,000 after purchasing an additional 10,228 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Metagenomi during the 4th quarter worth about $37,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Metagenomi during the fourth quarter valued at about $39,000.

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.