TD Cowen analyst Joseph Thome has maintained their bullish stance on MGX stock, giving a Buy rating on May 5.
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Joseph Thome has given his Buy rating due to a combination of factors including Metagenomi’s promising advancements in their hemophilia A gene editing program. The company has reported durable FVIII activity out to 19 months, which is a positive indicator of the therapy’s long-term efficacy. Additionally, Metagenomi’s ability to sustain FVIII activity in non-human primates, with some reaching normal levels, highlights the potential of their bioengineered FVIII transgene to improve treatment outcomes.
Furthermore, Metagenomi is making significant progress in its partnerships and internal programs. The company is on track to engage with regulators by the second half of 2025 and expects to file an IND for MGX-001 in 2026. Their pipeline includes several promising preclinical programs targeting secreted protein disorders and neuromuscular diseases, showcasing a robust portfolio that supports long-term growth potential. These factors collectively contribute to Thome’s confidence in recommending a Buy rating for Metagenomi’s stock.
In another report released on May 5, H.C. Wainwright also maintained a Buy rating on the stock with a $7.00 price target.