Metagenomi, Inc. (NASDAQ:MGX) Given Consensus Rating of “Buy” by Analysts

Metagenomi, Inc. (NASDAQ:MGX) has been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $21.40.

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They set an “overweight” rating and a $25.00 price objective for the company. TD Cowen initiated coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They set an “outperform” rating for the company. BMO Capital Markets initiated coverage on shares of Metagenomi in a report on Tuesday, March 5th. They issued an “outperform” rating and a $22.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Metagenomi in a report on Tuesday, March 5th. They issued an “overweight” rating and a $16.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on shares of Metagenomi in a report on Tuesday, March 5th. They issued a “buy” rating and a $23.00 target price for the company.

Metagenomi Price Performance

Shares of Metagenomi stock opened at $7.03 on Wednesday. Metagenomi has a 52-week low of $6.50 and a 52-week high of $12.74. The company has a 50-day simple moving average of $10.67.

Insider Activity

In other news, major shareholder Holdings A/S Novo acquired 800,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average price of $15.00 per share, with a total value of $12,000,000.00. Following the completion of the purchase, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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.