Shares of Magenta Therapeutics Inc (NASDAQ:MGTA) have earned a consensus recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $19.00.
MGTA has been the subject of a number of analyst reports. ValuEngine cut shares of Magenta Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Zacks Investment Research cut shares of Magenta Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, Cowen reiterated a “buy” rating on shares of Magenta Therapeutics in a research note on Wednesday, November 13th.
In other news, insider Michael P. Cooke sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.01, for a total value of $50,050.00. Insiders have sold 16,656 shares of company stock worth $176,372 in the last ninety days. 10.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Magenta Therapeutics by 75.4% during the 2nd quarter. Vanguard Group Inc. now owns 884,348 shares of the company’s stock worth $13,045,000 after purchasing an additional 380,135 shares in the last quarter. Alps Advisors Inc. bought a new stake in Magenta Therapeutics during the 2nd quarter worth approximately $1,190,000. Virtus ETF Advisers LLC bought a new stake in Magenta Therapeutics during the 2nd quarter worth approximately $274,000. BlackRock Inc. increased its stake in Magenta Therapeutics by 43.0% during the 2nd quarter. BlackRock Inc. now owns 1,623,423 shares of the company’s stock worth $23,944,000 after purchasing an additional 488,065 shares in the last quarter. Finally, Platinum Investment Management Ltd. increased its stake in Magenta Therapeutics by 7.7% during the 2nd quarter. Platinum Investment Management Ltd. now owns 226,558 shares of the company’s stock worth $3,342,000 after purchasing an additional 16,209 shares in the last quarter. 63.70% of the stock is owned by institutional investors and hedge funds.
Shares of MGTA stock traded up $1.43 during trading on Friday, hitting $10.50. 8,360 shares of the company were exchanged, compared to its average volume of 66,408. The firm has a market capitalization of $367.28 million, a price-to-earnings ratio of -3.38 and a beta of 3.12. The business’s 50-day simple moving average is $10.01 and its 200 day simple moving average is $12.45. Magenta Therapeutics has a twelve month low of $5.31 and a twelve month high of $21.00.
Magenta Therapeutics (NASDAQ:MGTA) last posted its quarterly earnings results on Wednesday, November 13th. The company reported ($0.54) EPS for the quarter, hitting the consensus estimate of ($0.54). On average, equities analysts predict that Magenta Therapeutics will post -2.01 earnings per share for the current year.
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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