Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Metagenomi Inc shares valued at $2,900 were sold by Wapnick Pamela on Dec 05 ’24. At $1.86 per share, Wapnick Pamela sold 1,559 shares. The insider’s holdings dropped to 61,492 shares worth approximately $0.25 million following the completion of this transaction.
Also, Wapnick Pamela sold 6,265 shares, netting a total of over 18,043 in proceeds. Following the sale of shares at $2.88 each, the insider now holds 63,051 shares.
Before that, Novo Holdings A/S had added 800,000 shares to its account. In a trade valued at $12,000,000, the 10% Owner bought Metagenomi Inc shares for $15.00 each. Upon closing the transaction, the insider’s holdings increased to 800,000 shares, worth approximately $7.01 million.
As published in their initiating research note from H.C. Wainwright on May 07, 2024, Metagenomi Inc [MGX] has been a Buy and the price target has been revised to $10. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early May. As of March 05, 2024, Wells Fargo has initiated its “an Overweight” rating for MGX. Earlier on March 05, 2024, TD Cowen initiated its rating. Their recommendation was “an Outperform” for MGX stock.
Analyzing MGX Stock Performance
During the last five days, there has been a surge of approximately 29.58%. Over the course of the year, Metagenomi Inc shares have dropped approximately -60.91%. A 50-day SMA is recorded $2.43, while a 200-day SMA reached $4.65. Nevertheless, trading volume fell to 1.01 million shares from 0.67 million shares the previous day.
Support And Resistance Levels for Metagenomi Inc (MGX)
According to the 24-hour chart, there is a support level at 3.81, which, if violated, would cause prices to drop to 3.60. In the upper region, resistance lies at 4.21. The next price resistance is at 4.40. RSI (Relative Strength Index) is 64.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.32, which suggests the price will decrease in the coming days. Percent R is at 28.80%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
