Metagenomi, Inc. (NASDAQ:MGX - Get Free Report) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,480,000 shares, an increase of 445.1% from the November 30th total of 271,500 shares. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 7.9% of the shares of the company are short sold.
Several brokerages recently issued reports on MGX. HC Wainwright raised their target price on shares of Metagenomi from $7.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Chardan Capital reiterated a "buy" rating and set a $15.00 price objective on shares of Metagenomi in a research note on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.67.
Get Our Latest Stock Analysis on Metagenomi
MGX stock traded up $0.26 during mid-day trading on Thursday, hitting $4.03. 1,006,282 shares of the company were exchanged, compared to its average volume of 615,480. The business has a fifty day simple moving average of $2.43 and a 200-day simple moving average of $3.10. Metagenomi has a 12-month low of $1.61 and a 12-month high of $12.74.
A number of large investors have recently added to or reduced their stakes in MGX. Rhumbline Advisers acquired a new stake in shares of Metagenomi during the second quarter worth about $26,000. BNP Paribas Financial Markets lifted its holdings in Metagenomi by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company's stock worth $28,000 after buying an additional 7,256 shares in the last quarter. Virtu Financial LLC purchased a new position in Metagenomi in the 3rd quarter valued at approximately $33,000. XTX Topco Ltd purchased a new position in shares of Metagenomi in the 2nd quarter valued at about $66,000. Finally, Green Alpha Advisors LLC acquired a new stake in shares of Metagenomi in the 3rd quarter valued at $69,000.
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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