Brokerages Set Magenta Therapeutics Inc (NASDAQ:MGTA) PT at $19.00

Shares of Magenta Therapeutics Inc (NASDAQ:MGTA) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $19.00.

Several analysts have recently commented on MGTA shares. Zacks Investment Research downgraded shares of Magenta Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. Cowen restated a “buy” rating on shares of Magenta Therapeutics in a research report on Thursday, August 8th. Finally, Wedbush restated an “outperform” rating and set a $22.00 price target on shares of Magenta Therapeutics in a research report on Friday, May 10th.

Shares of MGTA stock traded down $0.16 on Thursday, hitting $11.71. The stock had a trading volume of 7,815 shares, compared to its average volume of 74,718. The company’s 50 day moving average is $13.34. The company has a market cap of $488.19 million, a PE ratio of -3.83 and a beta of 3.01. Magenta Therapeutics has a 12-month low of $5.31 and a 12-month high of $21.00.

Magenta Therapeutics (NASDAQ:MGTA) last announced its earnings results on Thursday, August 8th. The company reported ($0.48) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.01. As a group, sell-side analysts predict that Magenta Therapeutics will post -2.03 earnings per share for the current year.

In related news, insider Jason Gardner sold 14,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $15.11, for a total transaction of $211,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Cooke sold 7,500 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $13.42, for a total transaction of $100,650.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,500 shares of company stock valued at $524,440. 10.90% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Magenta Therapeutics by 52.8% during the second quarter. JPMorgan Chase & Co. now owns 5,349 shares of the company’s stock worth $79,000 after purchasing an additional 1,848 shares during the period. BNP Paribas Arbitrage SA bought a new position in Magenta Therapeutics during the first quarter worth about $50,000. New York State Common Retirement Fund bought a new position in Magenta Therapeutics during the fourth quarter worth about $27,000. Geode Capital Management LLC boosted its position in Magenta Therapeutics by 42.9% during the fourth quarter. Geode Capital Management LLC now owns 21,739 shares of the company’s stock worth $123,000 after purchasing an additional 6,525 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Magenta Therapeutics by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 52,912 shares of the company’s stock worth $781,000 after purchasing an additional 9,980 shares during the period. Hedge funds and other institutional investors own 63.68% of the company’s stock.

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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