Metagenomi (NASDAQ:MGX) Stock Rating Lowered by JPMorgan Chase & Co.

Metagenomi (NASDAQ:MGX) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat.com reports. They presently have a $6.00 target price on the stock, down from their prior target price of $16.00. JPMorgan Chase & Co.‘s target price indicates a potential downside of 5.06% from the stock’s current price.

A number of other brokerages have also issued reports on MGX. Wells Fargo & Company began coverage on Metagenomi in a research report on Tuesday, March 5th. They issued an “overweight” rating and a $25.00 target price on the stock. TD Cowen initiated coverage on Metagenomi in a research note on Tuesday, March 5th. They issued an “outperform” rating on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $21.00 price target on shares of Metagenomi in a report on Thursday, March 28th. BMO Capital Markets started 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 initiated coverage on Metagenomi in a report on Tuesday, March 5th. They set a “buy” rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Metagenomi currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.40.

Metagenomi Stock Up 2.4 %

Shares of MGX traded up $0.15 during trading hours on Thursday, reaching $6.32. 68,675 shares of the company traded hands, compared to its average volume of 161,382. The company’s fifty day moving average price is $9.87. Metagenomi has a fifty-two week low of $5.50 and a fifty-two week high of $12.74.

Insiders Place Their Bets

In other Metagenomi news, major shareholder Holdings A/S Novo bought 100,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $10.25 per share, for a total transaction of $1,025,000.00. Following the transaction, the insider now owns 100,000 shares in the company, valued at approximately $1,025,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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.