Metagenomi price target lowered to $20 from $25 at Wells Fargo

Wells Fargo analyst Yanan Zhu lowered the firm’s price target on Metagenomi (MGX) to $20 from $25 and keeps an Overweight rating on the shares. With key initiatives progressing on track, the firm looks forward to the final NHP FVIII durability analysis in the first half of 2025 as well as updates on Ionis (IONS) collaboration programs and preclinical PoC for a secreted protein deficiency target this year.