BidaskClub Upgrades Magenta Therapeutics (NASDAQ:MGTA) to “Sell”

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BidaskClub upgraded shares of Magenta Therapeutics (NASDAQ:MGTA) from a strong sell rating to a sell rating in a report issued on Thursday, BidAskClub reports.

MGTA has been the subject of several other research reports. Goldman Sachs Group restated a neutral rating and issued a $18.00 price target on shares of Magenta Therapeutics in a report on Friday, December 6th. ValuEngine cut Magenta Therapeutics from a hold rating to a sell rating in a report on Wednesday, November 20th. Zacks Investment Research upgraded Magenta Therapeutics from a sell rating to a hold rating in a report on Tuesday, February 11th. BTIG Research assumed coverage on Magenta Therapeutics in a report on Friday, December 6th. They issued a buy rating and a $20.00 price target for the company. Finally, Cowen restated a buy rating on shares of Magenta Therapeutics in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $17.75.

MGTA opened at $14.00 on Thursday. The stock has a market capitalization of $545.85 million, a price-to-earnings ratio of -7.14 and a beta of 3.35. The business has a 50-day moving average of $13.40 and a two-hundred day moving average of $11.98. Magenta Therapeutics has a 12 month low of $8.78 and a 12 month high of $21.00.

In other news, insider John C. Davis, Jr. sold 11,294 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $15.04, for a total transaction of $169,861.76. Following the completion of the sale, the insider now owns 19,598 shares in the company, valued at approximately $294,753.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Cooke sold 7,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $13.00, for a total value of $97,500.00. Following the sale, the insider now owns 244,396 shares of the company’s stock, valued at approximately $3,177,148. The disclosure for this sale can be found here. Insiders have sold a total of 38,202 shares of company stock valued at $562,011 in the last quarter. Company insiders own 10.90% of the company’s stock.

Several large investors have recently modified their holdings of MGTA. Bank of Montreal Can lifted its position in Magenta Therapeutics by 57.3% during the 4th quarter. Bank of Montreal Can now owns 2,652 shares of the company’s stock worth $40,000 after acquiring an additional 966 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new position in Magenta Therapeutics during the 3rd quarter worth approximately $76,000. Citigroup Inc. lifted its position in Magenta Therapeutics by 248.7% during the 4th quarter. Citigroup Inc. now owns 6,876 shares of the company’s stock worth $104,000 after acquiring an additional 4,904 shares in the last quarter. Ikarian Capital LLC acquired a new position in Magenta Therapeutics during the 4th quarter worth approximately $131,000. Finally, Evoke Wealth LLC acquired a new position in Magenta Therapeutics during the 3rd quarter worth approximately $186,000. Institutional investors and hedge funds own 65.41% of the company’s stock.

About Magenta Therapeutics

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.

See Also: Overbought

Analyst Recommendations for Magenta Therapeutics (NASDAQ:MGTA)

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