Metagenomi Inc (NASDAQ:MGX) price on Friday, June 13, fall -1.38% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.43.
A look at the stock’s price movement, the close in the last trading session was $1.45. Turning to its 52-week performance, $6.59 and $1.23 were the 52-week high and 52-week low respectively. Overall, MGX moved -4.67% over the past month.
Metagenomi Inc’s market cap currently stands at around $53.45 million, with investors looking forward to this quarter’s earnings report slated for in July.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend MGX as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MGX’s current price about -13.41% and -10.13% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 37.93, while 7-day volatility ratio is 2.21% and 3.89% in the 30-day chart. Further, Metagenomi Inc (MGX) has a beta value of -0.37, and an average true range (ATR) of 0.13. Analysts have given the company’s stock an average 52-week price target of $14.5, forecast between a low of $7 and high of $22. Looking at the price targets, the low is -389.51% off current price level while to achieve the yearly target high, price needs to move -1438.46%. Nonetheless, investors will most likely welcome a -913.99% jump to $14.5 which is the analysts’ median price.
If we refocus on Metagenomi Inc (NASDAQ:MGX), historical trading data shows that trading volumes averaged 386.46K over the past 3 months. The company’s latest data on shares outstanding shows there are 37.38 million shares.
The 41.73% of Metagenomi Inc’s shares are in the hands of company insiders while institutional holders own 24.90% of the company’s shares. Current price change has pushed the stock -60.39% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MGX stock continues to rise going into the next quarter.
