Metagenomi, Inc. (NASDAQ:MGX) Receives $21.40 Average PT from Brokerages

Shares of Metagenomi, Inc. (NASDAQ:MGX) have been given an average recommendation of “Buy” by the six ratings firms that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $21.40.

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

Insider Buying and Selling

In other news, major shareholder Holdings A/S Novo purchased 800,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $15.00 per share, for a total transaction of $12,000,000.00. Following the purchase, the insider now directly owns 1,739,175 shares in the company, valued at approximately $26,087,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Metagenomi Price Performance

Shares of Metagenomi stock opened at $7.53 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 $10.35.

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.