Zacks Investment Research upgraded shares of Magenta Therapeutics (NASDAQ:MGTA) from a sell rating to a hold rating in a research note published on Saturday, September 29th.
According to Zacks, “Magenta Therapeutics Inc. is a clinical-stage biotechnology company. It engaged in developing therapeutics focused on critical areas of unmet need in the field of bone marrow transplant for patients with autoimmune diseases, blood cancers and genetic diseases. Magenta Therapeutics Inc. is headquartered in Cambridge, Mass. “
Other equities analysts have also issued reports about the company. Cowen assumed coverage on Magenta Therapeutics in a research report on Monday, July 16th. They set an outperform rating for the company. Wedbush initiated coverage on Magenta Therapeutics in a research report on Monday, July 16th. They set an outperform rating and a $22.00 price target for the company. Goldman Sachs Group began coverage on Magenta Therapeutics in a research note on Monday, July 16th. They set a buy rating and a $18.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on Magenta Therapeutics in a research note on Monday, July 16th. They issued an overweight rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $19.33.
Shares of NASDAQ:MGTA traded up $0.92 during trading on Friday, reaching $9.98. The stock had a trading volume of 165,155 shares, compared to its average volume of 84,211. Magenta Therapeutics has a 52 week low of $8.59 and a 52 week high of $16.33.
Magenta Therapeutics (NASDAQ:MGTA) last posted its quarterly earnings results on Thursday, August 9th. The company reported ($3.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($2.03). Analysts predict that Magenta Therapeutics will post -2.8 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of MGTA. Dean Capital Investments Management LLC acquired a new stake in Magenta Therapeutics in the second quarter valued at approximately $558,000. BlackRock Inc. bought a new stake in shares of Magenta Therapeutics in the second quarter valued at $1,350,000. Tiverton Asset Management LLC bought a new stake in shares of Magenta Therapeutics in the second quarter valued at $125,000. Citadel Advisors LLC bought a new stake in shares of Magenta Therapeutics in the second quarter valued at $1,172,000. Finally, Harvard Management Co. Inc. bought a new stake in shares of Magenta Therapeutics in the second quarter valued at $4,490,000. Institutional investors own 30.31% of the company’s stock.
Magenta Therapeutics Company Profile
Magenta Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing medicines to bring the curative power of bone marrow transplant to patients. It is developing C100, C200, and C300 targeted antibody-drug conjugates for transplant conditioning; MGTA-145, a 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 ADC program to prevent acute graft and host diseases.
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