Metagenomi price target lowered to $7 from $10 at H.C. Wainwright

H.C. Wainwright analyst Mitchell Kapoor lowered the firm’s price target on Metagenomi (MGX) to $7 from $10 and keeps a Buy rating on the shares. The analyst sees added risk for Metagenomi’s hemophilia A program following the recent positive Phase 3 results from Pfizer’s (PFE) one-time gene therapy, giroctocogene fitelparvovec. Treatment with Pfizer’s gene therapy led to a mean 98.3% reduction in total annualized bleeding rate from week 12 through at least 15 months post-infusion, the analyst tells investors in a research note.