Metagenomi (NASDAQ:MGX) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Metagenomi (NASDAQ:MGX) from an overweight rating to a neutral rating in a research report report published on Thursday morning, MarketBeat.com reports. They currently have $6.00 price objective on the stock, down from their previous price objective of $16.00.

Several other brokerages also recently commented on MGX. Chardan Capital reissued a buy rating and issued a $21.00 price target on shares of Metagenomi in a report on Thursday, March 28th. Jefferies Financial Group initiated coverage on Metagenomi in a report on Tuesday, March 5th. They issued a buy rating and a $23.00 price target on the stock. BMO Capital Markets started coverage on Metagenomi in a report on Tuesday, March 5th. They set an outperform rating and a $22.00 price objective for the company. TD Cowen began coverage on shares of Metagenomi in a research note on Tuesday, March 5th. They issued an outperform rating on the stock. Finally, Wells Fargo & Company started coverage on shares of Metagenomi in a research report on Tuesday, March 5th. They set an overweight rating and a $25.00 target price for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $19.40.

Metagenomi Trading Up 2.4 %

Shares of Metagenomi stock traded up $0.15 on Thursday, reaching $6.32. The stock had a trading volume of 68,675 shares, compared to its average volume of 161,382. The stock’s 50 day moving average price is $9.87. Metagenomi has a 1 year low of $5.50 and a 1 year high of $12.74.

Insiders Place Their Bets

In other Metagenomi news, major shareholder Holdings A/S Novo acquired 100,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $10.25 per share, with a total value of $1,025,000.00. Following the purchase, the insider now owns 100,000 shares of the company’s stock, valued at $1,025,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.