PFM Health Sciences LP Sells 233,000 Shares of Metagenomi, Inc. (NASDAQ:MGX)

PFM Health Sciences LP trimmed its position in shares of Metagenomi, Inc. (NASDAQ:MGX) by 18.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,034,002 shares of the company’s stock after selling 233,000 shares during the quarter. PFM Health Sciences LP owned approximately 2.76% of Metagenomi worth $2,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MGX. Rhumbline Advisers purchased a new stake in shares of Metagenomi in the 2nd quarter worth about $26,000. BNP Paribas Financial Markets boosted its stake in Metagenomi by 130.9% during the third quarter. BNP Paribas Financial Markets now owns 12,799 shares of the company’s stock worth $28,000 after acquiring an additional 7,256 shares in the last quarter. XTX Topco Ltd purchased a new stake in Metagenomi in the second quarter worth about $66,000. Green Alpha Advisors LLC bought a new position in shares of Metagenomi during the third quarter valued at approximately $69,000. Finally, Verition Fund Management LLC bought a new position in shares of Metagenomi during the third quarter valued at approximately $82,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MGX. BMO Capital Markets reduced their price target on Metagenomi from $22.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Chardan Capital reissued a “buy” rating and set a $15.00 price objective on shares of Metagenomi in a research report on Wednesday, November 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Metagenomi in a report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Metagenomi Stock Performance

Shares of NASDAQ MGX opened at $2.07 on Friday. Metagenomi, Inc. has a 12-month low of $1.61 and a 12-month high of $12.74. The firm has a 50 day moving average of $2.00 and a 200 day moving average of $3.55.

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.