Metagenomi Inc.’s recent filing unveils that its 10% Owner Novo Holdings A/S acquired Company’s shares for reported $12.0 million on Feb 13 ’24. In the deal valued at $15.00 per share,800,000 shares were bought. As a result of this transaction, Novo Holdings A/S now holds 1,739,175 shares worth roughly $7.1 million.
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Then, Novo Holdings A/S bought 100,000 shares, generating $1,025,000 in total proceeds. Upon buying the shares at $10.25, the 10% Owner now owns 100,000 shares.
H.C. Wainwright initiated its Metagenomi Inc. [MGX] rating to a Buy in a research note published on May 07, 2024; the price target was $10. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in early May from “an Overweight” to “a Neutral”. Wells Fargo began covering MGX with “an Overweight” recommendation on March 05, 2024. TD Cowen started covering the stock on March 05, 2024. It rated MGX as “an Outperform”.
Price Performance Review of MGX
On Friday, Metagenomi Inc. [NASDAQ:MGX] saw its stock jump 8.22% to $4.08. Over the last five days, the stock has gained 13.97%. Metagenomi Inc. shares have fallen nearly -60.43% since the year began.
Levels Of Support And Resistance For MGX Stock
The 24-hour chart illustrates a support level at 3.76, which if violated will result in even more drops to 3.44. On the upside, there is a resistance level at 4.34. A further resistance level may holdings at 4.60. The Relative Strength Index (RSI) on the 14-day chart is 30.80, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.75, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.21%. Stochastics%K at 15.26% indicates the stock is a buying.
The most recent change occurred on March 05, 2024 when JP Morgan began covering the stock and recommended ‘”an Overweight”‘ rating along with a $16 price target.
