Chardan Capital Cuts Metagenomi (NASDAQ:MGX) Price Target to $12.00

Metagenomi (NASDAQ:MGX) had its price objective dropped by investment analysts at Chardan Capital from $13.00 to $12.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock.

A number of other equities research analysts have also recently commented on MGX. Wells Fargo & Company reaffirmed an “overweight” rating and set a $16.00 price objective (down from $20.00) on shares of Metagenomi in a research note on Wednesday. HC Wainwright reduced their target price on Metagenomi from $14.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd.

Metagenomi Price Performance

Shares of NASDAQ:MGX opened at $1.50 on Thursday. The stock has a market cap of $56.07 million, a price-to-earnings ratio of -0.71 and a beta of -0.65. The company has a 50 day moving average of $1.60 and a 200-day moving average of $2.27. Metagenomi has a one year low of $1.23 and a one year high of $8.17.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.06). The business had revenue of $4.13 million during the quarter, compared to the consensus estimate of $8.75 million. Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%. Equities research analysts anticipate that Metagenomi will post -2.46 earnings per share for the current year.

Institutional Investors Weigh In On Metagenomi

Several institutional investors have recently added to or reduced their stakes in MGX. Voya Investment Management LLC bought a new stake in shares of Metagenomi in the fourth quarter valued at about $37,000. Price T Rowe Associates Inc. MD bought a new position in Metagenomi in the fourth quarter valued at $39,000. SG Americas Securities LLC acquired a new stake in Metagenomi in the 4th quarter valued at $43,000. Rhumbline Advisers lifted its position in Metagenomi by 123.3% during the 4th quarter. Rhumbline Advisers now owns 11,998 shares of the company’s stock worth $43,000 after buying an additional 6,626 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Metagenomi in the 1st quarter valued at about $43,000.

Metagenomi Company Profile

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.