Magenta Therapeutics (MGTA) Upgraded by Zacks Investment Research to Hold

Magenta Therapeutics (NASDAQ:MGTA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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. “

MGTA has been the subject of a number of other research reports. Goldman Sachs Group began coverage on Magenta Therapeutics in a research report on Monday, July 16th. They issued a “buy” rating and a $18.00 price target for the company. Wedbush began coverage on Magenta Therapeutics in a research report on Monday, July 16th. They issued an “outperform” rating and a $22.00 price target for the company. Cowen began coverage on Magenta Therapeutics in a research report on Monday, July 16th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. began coverage on Magenta Therapeutics in a research report on Monday, July 16th. They issued an “overweight” rating and a $18.00 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Magenta Therapeutics currently has an average rating of “Buy” and an average price target of $19.33.

Shares of MGTA stock opened at $10.37 on Tuesday. Magenta Therapeutics has a fifty-two week low of $10.12 and a fifty-two week high of $16.33.

Magenta Therapeutics (NASDAQ:MGTA) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($3.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($2.03). Research analysts anticipate that Magenta Therapeutics will post -2.8 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Magenta Therapeutics during the second quarter valued at $109,000. Point72 Asset Management L.P. acquired a new stake in shares of Magenta Therapeutics during the second quarter valued at $109,000. Tiverton Asset Management LLC acquired a new stake in shares of Magenta Therapeutics during the second quarter valued at $125,000. Northern Trust Corp acquired a new stake in shares of Magenta Therapeutics during the second quarter valued at $179,000. Finally, Dean Capital Investments Management LLC acquired a new stake in shares of Magenta Therapeutics during the second quarter valued at $558,000. 30.31% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Article: Outstanding Shares

Get a free copy of the Zacks research report on Magenta Therapeutics (MGTA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Magenta Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magenta Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply