Metagenomi's (MGX) "Buy" Rating Reaffirmed at HC Wainwright

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Metagenomi (NASDAQ:MGX - Get Free Report)'s stock had its "buy" rating reaffirmed by HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $7.00 price target on the stock. HC Wainwright's price objective suggests a potential upside of 264.58% from the company's current price.

A number of other research firms have also recently issued reports on MGX. Wall Street Zen cut Metagenomi from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Chardan Capital decreased their price objective on Metagenomi from $12.00 to $11.00 and set a "buy" rating for the company in a report on Friday. Finally, Wells Fargo & Company decreased their price objective on Metagenomi from $16.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, August 14th.

Metagenomi Trading Up 3.2%

MGX stock opened at $1.92 on Tuesday. The stock has a 50-day moving average price of $1.90 and a two-hundred day moving average price of $1.84. The stock has a market cap of $72.06 million, a PE ratio of -0.81 and a beta of -0.12. Metagenomi has a 1 year low of $1.23 and a 1 year high of $4.92.

Metagenomi (NASDAQ:MGX - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.68) by $0.14. The firm had revenue of $8.51 million during the quarter, compared to analysts' expectations of $7.72 million. Metagenomi had a negative return on equity of 37.84% and a negative net margin of 257.99%. On average, analysts forecast that Metagenomi will post -2.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Metagenomi

Several hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Metagenomi by 53.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,515 shares of the company's stock valued at $32,000 after acquiring an additional 7,458 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Metagenomi in the 4th quarter valued at about $37,000. Price T Rowe Associates Inc. MD acquired a new stake in Metagenomi in the 4th quarter valued at about $39,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Metagenomi by 338.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,193 shares of the company's stock valued at $55,000 after purchasing an additional 11,730 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Metagenomi by 39.6% in the 1st quarter. Bank of New York Mellon Corp now owns 50,387 shares of the company's stock valued at $69,000 after purchasing an additional 14,296 shares during the last quarter.

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.

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