Brokerages expect Magenta Therapeutics Inc (NASDAQ:MGTA) to report earnings per share of ($0.53) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Magenta Therapeutics’ earnings. The highest EPS estimate is ($0.47) and the lowest is ($0.55). Magenta Therapeutics reported earnings of ($0.49) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.2%. The business is expected to report its next quarterly earnings results on Thursday, November 14th.
According to Zacks, analysts expect that Magenta Therapeutics will report full-year earnings of ($2.01) per share for the current year, with EPS estimates ranging from ($2.08) to ($1.89). For the next fiscal year, analysts expect that the firm will report earnings of ($1.87) per share, with EPS estimates ranging from ($2.42) to ($0.88). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Magenta Therapeutics.
Magenta Therapeutics (NASDAQ:MGTA) last issued its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.49) by $0.01.
MGTA has been the subject of a number of research analyst reports. ValuEngine downgraded Magenta Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Cowen reiterated a “buy” rating on shares of Magenta Therapeutics in a report on Thursday, August 8th. Finally, Zacks Investment Research downgraded Magenta Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $16.33.
MGTA stock traded down $0.12 during mid-day trading on Friday, reaching $9.53. The company’s stock had a trading volume of 30,382 shares, compared to its average volume of 54,623. The company has a market cap of $379.61 million, a price-to-earnings ratio of -3.04 and a beta of 3.13. The business’s 50 day moving average price is $10.32 and its 200 day moving average price is $13.35. Magenta Therapeutics has a 12 month low of $5.31 and a 12 month high of $21.00.
In other news, insider Michael P. Cooke sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $10.11, for a total transaction of $50,550.00. Following the completion of the sale, the insider now owns 265,523 shares in the company, valued at $2,684,437.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael P. Cooke sold 7,500 shares of Magenta Therapeutics stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $13.42, for a total value of $100,650.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,156 shares of company stock valued at $221,122. Corporate insiders own 10.90% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Platinum Investment Management Ltd. boosted its position in shares of Magenta Therapeutics by 7.7% during the second quarter. Platinum Investment Management Ltd. now owns 226,558 shares of the company’s stock valued at $3,342,000 after buying an additional 16,209 shares during the last quarter. OneAscent Financial Services LLC purchased a new position in shares of Magenta Therapeutics during the second quarter valued at approximately $166,000. Citadel Advisors LLC boosted its position in shares of Magenta Therapeutics by 31.5% during the second quarter. Citadel Advisors LLC now owns 229,066 shares of the company’s stock valued at $3,379,000 after buying an additional 54,847 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Magenta Therapeutics by 75.4% during the second quarter. Vanguard Group Inc. now owns 884,348 shares of the company’s stock valued at $13,045,000 after buying an additional 380,135 shares during the last quarter. Finally, Laurion Capital Management LP boosted its position in shares of Magenta Therapeutics by 1,199.4% during the second quarter. Laurion Capital Management LP now owns 143,544 shares of the company’s stock valued at $2,117,000 after buying an additional 132,497 shares during the last quarter. 63.83% of the stock is currently owned by institutional investors.
Magenta Therapeutics Company Profile
Magenta Therapeutics, Inc, a clinical-stage biotechnology company, develops novel medicines to extend the curative power of stem cell transplant, gene therapy, genome editing, and cell therapy to patients. It is developing C100, C200, and C300 targeted antibody-drug conjugates for transplant conditioning; MGTA-145, a novel stem cell mobilization product candidate to control stem cell mobilization; MGTA-456, an allogeneic stem cell therapy to control stem cell growth; E478, a small molecule aryl hydrocarbon receptor antagonist for the expansion of gene-modified stem cells; and G100, an antibody-drug conjugate program to prevent acute graft and host diseases.
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