Metagenomi (NASDAQ:MGX - Get Free Report) was downgraded by research analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a report released on Thursday, Marketbeat.com reports. They presently have a $6.00 price objective on the stock, down from their prior price objective of $16.00. JPMorgan Chase & Co.'s price target suggests a potential downside of 2.76% from the stock's previous close.
Several other research analysts also recently weighed in on MGX. Wells Fargo & Company began coverage on shares of Metagenomi in a report on Tuesday, March 5th. They issued an "overweight" rating and a $25.00 target price for the company. Chardan Capital reaffirmed a "buy" rating and issued a $21.00 target price on shares of Metagenomi in a report on Thursday, March 28th. TD Cowen began coverage on shares of Metagenomi in a report on Tuesday, March 5th. They issued an "outperform" rating for the company. 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 target price for the company. Finally, Jefferies Financial Group assumed coverage on shares of Metagenomi in a report on Tuesday, March 5th. They set a "buy" rating and a $23.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Metagenomi presently has a consensus rating of "Moderate Buy" and an average target price of $19.40.
Get Our Latest Stock Report on MGX
Metagenomi Price Performance
Shares of NASDAQ:MGX traded down $0.87 during midday trading on Thursday, hitting $6.17. The company had a trading volume of 982,117 shares, compared to its average volume of 181,195. Metagenomi has a 12-month low of $5.50 and a 12-month high of $12.74. The business has a fifty day simple moving average of $10.09.
Insider Activity at Metagenomi
In other Metagenomi news, major shareholder Holdings A/S Novo purchased 100,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $10.25 per share, with a total value of $1,025,000.00. Following the acquisition, the insider now owns 100,000 shares in the company, valued at $1,025,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Metagenomi Company Profile
(
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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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