Magenta Therapeutics Inc (MGTA) Expected to Post Earnings of -$0.53 Per Share

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Equities research analysts expect Magenta Therapeutics Inc (NASDAQ:MGTA) to post ($0.53) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Magenta Therapeutics’ earnings, with estimates ranging from ($0.56) to ($0.46). The firm is expected to report its next quarterly earnings results on Tuesday, June 18th.

On average, analysts expect that Magenta Therapeutics will report full year earnings of ($2.29) per share for the current year, with EPS estimates ranging from ($2.54) to ($2.07). For the next financial year, analysts anticipate that the company will post earnings of ($2.33) per share, with EPS estimates ranging from ($2.55) to ($1.92). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Magenta Therapeutics.

Magenta Therapeutics (NASDAQ:MGTA) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.03.

MGTA has been the subject of a number of research analyst reports. Raymond James initiated coverage on shares of Magenta Therapeutics in a report on Thursday, March 14th. They issued an “outperform” rating for the company. ValuEngine cut shares of Magenta Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Zacks Investment Research cut shares of Magenta Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Finally, Goldman Sachs Group cut shares of Magenta Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $17.00 to $16.00 in a report on Sunday, March 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Magenta Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $19.00.

In other news, Director Bruce Booth sold 14,245 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $17.86, for a total value of $254,415.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Magenta Therapeutics by 71.6% in the 3rd quarter. BlackRock Inc. now owns 171,629 shares of the company’s stock valued at $2,062,000 after purchasing an additional 71,629 shares during the last quarter. Platinum Investment Management Ltd. increased its holdings in shares of Magenta Therapeutics by 47.4% in the third quarter. Platinum Investment Management Ltd. now owns 73,700 shares of the company’s stock worth $885,000 after acquiring an additional 23,700 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Magenta Therapeutics by 92.6% in the third quarter. Vanguard Group Inc. now owns 144,456 shares of the company’s stock worth $1,735,000 after acquiring an additional 69,456 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Magenta Therapeutics by 92.6% in the third quarter. Vanguard Group Inc now owns 144,456 shares of the company’s stock worth $1,735,000 after acquiring an additional 69,456 shares in the last quarter. Finally, TRV GP IV LLC bought a new stake in shares of Magenta Therapeutics in the fourth quarter worth about $45,647,000. Hedge funds and other institutional investors own 55.82% of the company’s stock.

NASDAQ MGTA opened at $15.89 on Friday. The firm has a market capitalization of $531.84 million and a price-to-earnings ratio of -5.08. Magenta Therapeutics has a 12-month low of $5.31 and a 12-month high of $21.00.

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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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