Short Interest in Metagenomi, Inc. (NASDAQ:MGX) Rises By 21.7%

Metagenomi, Inc. (NASDAQ:MGX) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 2,640,000 shares, an increase of 21.7% from the January 15th total of 2,170,000 shares. Based on an average daily trading volume, of 2,300,000 shares, the short-interest ratio is currently 1.1 days. Approximately 14.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Metagenomi

Several institutional investors have recently bought and sold shares of MGX. Norges Bank purchased a new position in Metagenomi during the fourth quarter valued at $1,300,000. Peapod Lane Capital LLC purchased a new position in Metagenomi during the fourth quarter valued at $1,268,000. Geode Capital Management LLC grew its stake in Metagenomi by 73.8% during the fourth quarter. Geode Capital Management LLC now owns 587,421 shares of the company’s stock valued at $2,121,000 after acquiring an additional 249,390 shares in the last quarter. Northern Trust Corp grew its stake in Metagenomi by 185.6% during the fourth quarter. Northern Trust Corp now owns 223,934 shares of the company’s stock valued at $808,000 after acquiring an additional 145,536 shares in the last quarter. Finally, Good Life Advisors LLC purchased a new position in Metagenomi during the fourth quarter valued at $451,000.

Analyst Ratings Changes

Several brokerages have recently issued reports on MGX. Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Metagenomi in a research note on Wednesday, November 20th. HC Wainwright upped their target price on shares of Metagenomi from $7.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Metagenomi has an average rating of “Moderate Buy” and an average target price of $16.67.

Metagenomi Stock Performance

Shares of NASDAQ MGX traded up $0.16 during midday trading on Monday, reaching $2.61. The stock had a trading volume of 977,060 shares, compared to its average volume of 1,786,459. The stock has a 50-day moving average of $3.15 and a 200-day moving average of $2.67. Metagenomi has a 12-month low of $1.61 and a 12-month high of $12.74.

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.