H.C. Wainwright Starts Metagenomi Inc (MGX) at Buy

H.C. Wainwright analyst Mitchell S. Kapoor initiates coverage on Metagenomi Inc (NASDAQ: MGX) with a Buy rating and a price target of $10.00.

The analyst comments "There's a tool for that—a toolbox capable of virtually any genomic modification. We are initiating on Metagenomi with a Buy rating and $10 price target. Metagenomi is a precision genetic medicines company focused on developing curative therapies via the company's metagenomics-derived genome editing toolbox. This comprehensive genome editing toolbox includes programmable nucleases, base editors, and RNA and DNA-mediated integration systems—including prime editing and CRISPR-associated transposases (CASTs). Through this toolbox, we believe Metagenomi has the most broad range of genome editing capabilities across its many pipeline programs. We believe this breadth allows Metagenomi to have many shots on goal to treat a wide array of diseases with genetic mutations of differing formats, sizes, and origins—a distinct advantage since competitor company genome editing approaches are limited to one or two modalities and cannot address each mutational format. Given its cash runway into 2027, and given where the stock trades today, we believe MGX has plenty of room to run upon any materially positive development."

For an analyst ratings summary and ratings history on Metagenomi Inc click here. For more ratings news on Metagenomi Inc click here.

Shares of Metagenomi Inc closed at $6.47 yesterday.

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