Class Action Filed Against Metagenomi, Inc. (MGX) Seeking Recovery for Investors - Contact The Gross Law Firm

Core Viewpoint - Metagenomi, Inc. is facing a class action lawsuit following the termination of its collaboration with Moderna, which was a significant aspect of its initial public offering narrative [2]. Group 1: Company Overview - Metagenomi, Inc. is characterized as a "genetic medicines company" and had a strategic collaboration with Moderna, which was highlighted during its initial public offering [2]. - The company completed its IPO on February 13, 2024, selling 6.25 million shares at a price of $15 per share [2]. Group 2: Key Events - On May 1, 2024, Metagenomi announced the mutual termination of its collaboration agreement with Moderna, which was unexpected and raised concerns about the company's future [2]. - Following the announcement, Metagenomi's stock price fell from $7.04 per share on May 1, 2024, to $6.17 per share on May 2, 2024, indicating a significant market reaction to the news [2]. Group 3: Legal Proceedings - A class action lawsuit has been initiated for shareholders who purchased shares during the IPO period from February 9 to 13, 2024, with a deadline for registration set for November 25, 2024 [3]. - Shareholders are encouraged to register for the class action to receive updates and monitor the case's progress [3].