Metagenomi, Inc. (NASDAQ:MGX) Short Interest Update

Metagenomi, Inc. (NASDAQ:MGX) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 259,400 shares, a decrease of 29.8% from the October 15th total of 369,500 shares. Based on an average daily trading volume, of 246,700 shares, the short-interest ratio is presently 1.1 days. Approximately 1.4% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several analysts have issued reports on MGX shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Metagenomi in a research report on Tuesday, October 15th. Chardan Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of Metagenomi in a report on Thursday, September 5th. Finally, BMO Capital Markets lowered their target price on Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Metagenomi currently has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Metagenomi Trading Down 10.9 %

NASDAQ MGX traded down $0.23 during trading hours on Thursday, reaching $1.88. 773,859 shares of the company traded hands, compared to its average volume of 174,864. Metagenomi has a 12 month low of $1.85 and a 12 month high of $12.74. The company has a 50 day moving average of $2.20 and a two-hundred day moving average of $3.94.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.30. The firm had revenue of $20.01 million during the quarter, compared to analyst estimates of $14.80 million. As a group, research analysts predict that Metagenomi will post -3.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MGX. Rhumbline Advisers acquired a new stake in Metagenomi during the second quarter worth about $26,000. BNP Paribas Financial Markets raised its position in shares of 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 purchasing an additional 7,256 shares during the period. Resolute Advisors LLC bought a new stake in shares of Metagenomi in the 1st quarter worth approximately $106,000. XTX Topco Ltd acquired a new position in Metagenomi during the 2nd quarter valued at approximately $66,000. Finally, Green Alpha Advisors LLC bought a new position in Metagenomi during the 3rd quarter worth $69,000.

Metagenomi Company Profile

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.