Magenta Therapeutics (NASDAQ:MGTA) Cut to “Hold” at ValuEngine

ValuEngine downgraded shares of Magenta Therapeutics (NASDAQ:MGTA) from a buy rating to a hold rating in a research report report published on Friday morning, ValuEngine reports.

MGTA has been the subject of a number of other research reports. Zacks Investment Research downgraded Magenta Therapeutics from a hold rating to a sell rating in a research note on Wednesday, August 14th. Cowen reaffirmed a buy rating on shares of Magenta Therapeutics in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $17.33.

MGTA opened at $11.80 on Friday. Magenta Therapeutics has a fifty-two week low of $5.31 and a fifty-two week high of $21.00. The company has a market capitalization of $461.04 million, a P/E ratio of -3.77 and a beta of 3.15. The stock has a fifty day moving average of $11.21 and a 200-day moving average of $14.30.

Magenta Therapeutics (NASDAQ:MGTA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.01. As a group, sell-side analysts expect that Magenta Therapeutics will post -2.01 EPS for the current year.

In related news, insider Michael P. Cooke sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $10.11, for a total value of $50,550.00. Following the completion of the transaction, the insider now owns 265,523 shares of the company’s stock, valued at $2,684,437.53. The transaction was disclosed in a legal filing with the SEC, 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, July 1st. The shares were sold at an average price of $14.40, for a total value of $108,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,656 shares of company stock valued at $279,072. 10.90% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of MGTA. BNP Paribas Arbitrage SA acquired a new position in Magenta Therapeutics in the first quarter valued at about $50,000. JPMorgan Chase & Co. raised its stake in Magenta Therapeutics by 52.8% in the second quarter. JPMorgan Chase & Co. now owns 5,349 shares of the company’s stock valued at $79,000 after purchasing an additional 1,848 shares in the last quarter. OneAscent Financial Services LLC acquired a new position in Magenta Therapeutics in the second quarter valued at about $166,000. Rhumbline Advisers acquired a new position in Magenta Therapeutics during the first quarter worth about $253,000. Finally, Virtus ETF Advisers LLC acquired a new position in Magenta Therapeutics during the second quarter worth about $274,000. 63.83% of the stock is owned by institutional investors and hedge funds.

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.

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