Shares of Magenta Therapeutics, Inc. (NASDAQ:MGTA) have received a consensus rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $16.60.
Several research analysts have commented on MGTA shares. Zacks Investment Research downgraded Magenta Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, August 6th. Cantor Fitzgerald started coverage on Magenta Therapeutics in a research note on Tuesday, June 29th. They issued an “overweight” rating and a $20.00 target price for the company. JPMorgan Chase & Co. downgraded Magenta Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $7.00 in a research report on Tuesday, August 3rd. BTIG Research reiterated a “buy” rating and set a $20.00 price target on shares of Magenta Therapeutics in a research report on Friday, August 6th. Finally, B. Riley dropped their price target on Magenta Therapeutics from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, July 22nd.
MGTA traded up $0.13 during trading hours on Wednesday, hitting $7.60. The stock had a trading volume of 1,714 shares, compared to its average volume of 260,089. Magenta Therapeutics has a 1 year low of $5.89 and a 1 year high of $14.20. The company’s fifty day simple moving average is $6.84 and its 200 day simple moving average is $9.79. The stock has a market cap of $445.11 million, a PE ratio of -5.22 and a beta of 2.33.
In related news, insider Kristen Stants sold 5,736 shares of the firm’s stock in a transaction dated Thursday, September 16th. The stock was sold at an average price of $6.73, for a total transaction of $38,603.28. Following the transaction, the insider now directly owns 14,264 shares of the company’s stock, valued at approximately $95,996.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.18% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MGTA. Great Point Partners LLC purchased a new position in Magenta Therapeutics in the 2nd quarter worth approximately $10,867,000. Orbimed Advisors LLC purchased a new position in Magenta Therapeutics in the 1st quarter worth approximately $11,237,000. Citadel Advisors LLC increased its stake in Magenta Therapeutics by 670.6% in the 1st quarter. Citadel Advisors LLC now owns 775,414 shares of the company’s stock worth $9,181,000 after purchasing an additional 674,793 shares during the period. Cormorant Asset Management LP purchased a new position in Magenta Therapeutics in the 1st quarter worth approximately $7,104,000. Finally, EcoR1 Capital LLC purchased a new position in Magenta Therapeutics in the 1st quarter worth approximately $6,587,000. 58.25% of the stock is currently owned by institutional investors.
Magenta Therapeutics Company Profile
Magenta Therapeutics, Inc is a clinical-stage biotechnology company, which engages in the development of novel medicines for bone marrow transplants. It offers patient preparation, stem cell collection, cell dose, and safe immune regeneration programs. Its platform include autologous and allogeneic transplant, and gene therapy.
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