Brokerages Expect Magenta Therapeutics Inc (NASDAQ:MGTA) to Announce -$0.53 Earnings Per Share

Wall Street brokerages expect that Magenta Therapeutics Inc (NASDAQ:MGTA) will report earnings per share of ($0.53) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Magenta Therapeutics’ earnings. The highest EPS estimate is ($0.47) and the lowest is ($0.55). Magenta Therapeutics posted earnings per share of ($0.49) in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.2%. The company is scheduled to report its next earnings report on Thursday, November 14th.

On average, analysts expect that Magenta Therapeutics will report full year earnings of ($2.01) per share for the current year, with EPS estimates ranging from ($2.08) to ($1.89). For the next financial year, analysts anticipate that the business will report earnings of ($1.87) per share, with EPS estimates ranging from ($2.42) to ($0.88). Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Magenta Therapeutics.

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

A number of equities analysts have recently issued reports on MGTA shares. Zacks Investment Research cut Magenta Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Cowen reiterated a “buy” rating on shares of Magenta Therapeutics in a report on Thursday, August 8th. Finally, ValuEngine upgraded Magenta Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Magenta Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $17.33.

Shares of NASDAQ MGTA traded up $0.58 during trading hours on Thursday, hitting $11.72. 74,731 shares of the company’s stock were exchanged, compared to its average volume of 140,157. Magenta Therapeutics has a 1-year low of $5.31 and a 1-year high of $21.00. The stock has a market capitalization of $446.09 million, a price-to-earnings ratio of -3.74 and a beta of 3.15. The company’s 50-day moving average price is $11.31 and its 200-day moving average price is $14.33.

In other Magenta Therapeutics news, insider Jason Gardner sold 14,000 shares of Magenta Therapeutics stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $15.11, for a total value of $211,540.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Cooke sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $10.11, for a total transaction of $50,550.00. Following the transaction, the insider now directly owns 265,523 shares of the company’s stock, valued at $2,684,437.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,000 shares of company stock worth $470,740. 10.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Magenta Therapeutics in the 1st quarter valued at about $30,127,000. BlackRock Inc. increased its stake in shares of Magenta Therapeutics by 43.0% during the second quarter. BlackRock Inc. now owns 1,623,423 shares of the company’s stock worth $23,944,000 after buying an additional 488,065 shares during the period. Vanguard Group Inc. boosted its holdings in Magenta Therapeutics by 75.4% in the second quarter. Vanguard Group Inc. now owns 884,348 shares of the company’s stock valued at $13,045,000 after purchasing an additional 380,135 shares in the last quarter. Citadel Advisors LLC boosted its holdings in shares of Magenta Therapeutics by 31.5% in the second quarter. Citadel Advisors LLC now owns 229,066 shares of the company’s stock valued at $3,379,000 after acquiring an additional 54,847 shares during the period. Finally, Platinum Investment Management Ltd. raised its position in Magenta Therapeutics by 7.7% in the second quarter. Platinum Investment Management Ltd. now owns 226,558 shares of the company’s stock worth $3,342,000 after acquiring an additional 16,209 shares in the last quarter. 63.83% of the stock is currently owned by institutional investors and hedge funds.

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.

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