Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for MGX is 18.91M, and currently, short sellers hold a 4.79% ratio of that floaft. The average trading volume of MGX on April 29, 2024 was 220.03K shares.
MGX) stock’s latest price update
Metagenomi Inc. (NASDAQ: MGX)’s stock price has soared by 11.72 in relation to previous closing price of 6.74. Nevertheless, the company has seen a gain of 9.29% in its stock price over the last five trading days. The Motley Fool reported 2024-02-19 that Metagenomi just raised $94 million in its initial public offering. It now has enough money to last it for a few years.
MGX’s Market Performance
The volatility ratio for the week is 9.80%, and the volatility levels for the past 30 days are at 9.19% for MGX. The simple moving average for the past 20 days is -14.92% for MGX’s stock, with a -28.39% simple moving average for the past 200 days.
Analysts’ Opinion of MGX
Many brokerage firms have already submitted their reports for MGX stocks, with Wells Fargo repeating the rating for MGX by listing it as a “Overweight.” The predicted price for MGX in the upcoming period, according to Wells Fargo is $25 based on the research report published on March 05, 2024 of the current year 2024.
JP Morgan gave a rating of “Overweight” to MGX, setting the target price at $16 in the report published on March 05th of the current year.
MGX Trading at -28.15% from the 50-Day Moving Average
After a stumble in the market that brought MGX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -40.89% of loss for the given period.
Volatility was left at 9.19%, however, over the last 30 days, the volatility rate increased by 9.80%, as shares sank -28.63% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -38.53% lower at present.
During the last 5 trading sessions, MGX rose by +9.29%, in comparison to the 20-day moving average, which settled at $8.70. In addition, Metagenomi Inc. saw -26.96% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MGX starting from Novo Holdings A/S, who purchase 800,000 shares at the price of $15.00 back on Feb 13 ’24. After this action, Novo Holdings A/S now owns 1,739,175 shares of Metagenomi Inc., valued at $12,000,000 using the latest closing price.
Novo Holdings A/S, the 10% Owner of Metagenomi Inc., purchase 100,000 shares at $10.25 during a trade that took place back on Feb 09 ’24, which means that Novo Holdings A/S is holding 100,000 shares at $1,025,000 based on the most recent closing price.
Stock Fundamentals for MGX
The liquidity ratio also appears to be rather interesting for investors as it stands at 4.04.
Conclusion
In a nutshell, Metagenomi Inc. (MGX) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
