Magenta Therapeutics Inc (NASDAQ:MGTA) Expected to Earn Q1 2020 Earnings of ($0.61) Per Share

Magenta Therapeutics Inc (NASDAQ:MGTA) – Investment analysts at Wedbush issued their Q1 2020 EPS estimates for Magenta Therapeutics in a research note issued to investors on Thursday, August 8th. Wedbush analyst D. Nierengarten expects that the company will post earnings per share of ($0.61) for the quarter. Wedbush currently has a “Outperform” rating and a $22.00 target price on the stock. Wedbush also issued estimates for Magenta Therapeutics’ Q2 2020 earnings at ($0.62) EPS, Q3 2020 earnings at ($0.63) EPS and Q4 2020 earnings at ($0.55) EPS.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Magenta Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. Cowen restated a “buy” rating on shares of Magenta Therapeutics in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Magenta Therapeutics presently has an average rating of “Buy” and a consensus target price of $17.33.



Shares of Magenta Therapeutics stock opened at $11.80 on Monday. Magenta Therapeutics has a 1 year low of $5.31 and a 1 year high of $21.00. The stock has a 50-day simple moving average of $13.28. The company has a market capitalization of $464.19 million, a P/E ratio of -3.77 and a beta of 3.01.

Magenta Therapeutics (NASDAQ:MGTA) last released its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.01.

In related news, insider Michael P. Cooke sold 7,500 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $14.40, for a total transaction of $108,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Gardner sold 14,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $15.11, for a total value of $211,540.00. The disclosure for this sale can be found here. Insiders sold 36,500 shares of company stock valued at $524,440 over the last 90 days. Corporate insiders own 10.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Laurion Capital Management LP grew its stake in shares of Magenta Therapeutics by 1,199.4% in the second quarter. Laurion Capital Management LP now owns 143,544 shares of the company’s stock worth $2,117,000 after purchasing an additional 132,497 shares during the last quarter. BlackRock Inc. grew its stake in shares of Magenta Therapeutics by 43.0% in the second quarter. BlackRock Inc. now owns 1,623,423 shares of the company’s stock worth $23,944,000 after purchasing an additional 488,065 shares during the last quarter. Virtus ETF Advisers LLC bought a new stake in shares of Magenta Therapeutics in the second quarter worth about $274,000. Northern Trust Corp grew its stake in shares of Magenta Therapeutics by 17.0% in the second quarter. Northern Trust Corp now owns 182,801 shares of the company’s stock worth $2,697,000 after purchasing an additional 26,615 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Magenta Therapeutics by 23.2% in the second quarter. Bank of New York Mellon Corp now owns 52,912 shares of the company’s stock worth $781,000 after purchasing an additional 9,980 shares during the last quarter. Hedge funds and other institutional investors own 63.68% 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.

Further Reading: Return On Assets

Earnings History and Estimates for Magenta Therapeutics (NASDAQ:MGTA)

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