BTIG Research started coverage on shares of Magenta Therapeutics (NASDAQ:MGTA) in a report published on Friday, Benzinga reports. The firm issued a buy rating and a $20.00 target price on the stock.
Several other research analysts also recently weighed in on MGTA. Goldman Sachs Group reiterated a neutral rating and issued a $18.00 target price on shares of Magenta Therapeutics in a research note on Friday. ValuEngine downgraded Magenta Therapeutics from a hold rating to a sell rating in a report on Wednesday, November 20th. Zacks Investment Research downgraded shares of Magenta Therapeutics from a buy rating to a hold rating in a report on Tuesday, October 15th. Finally, Cowen reiterated a buy rating on shares of Magenta Therapeutics in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Magenta Therapeutics has a consensus rating of Hold and a consensus price target of $17.75.
Shares of MGTA opened at $13.29 on Friday. Magenta Therapeutics has a fifty-two week low of $5.31 and a fifty-two week high of $21.00. The firm has a 50-day simple moving average of $11.14 and a 200-day simple moving average of $12.23. The company has a market capitalization of $518.17 million, a price-to-earnings ratio of -4.25 and a beta of 3.24.
In related news, insider Michael P. Cooke sold 7,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $13.00, for a total transaction of $97,500.00. Following the sale, the insider now owns 244,396 shares of the company’s stock, valued at $3,177,148. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael P. Cooke sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $11.18, for a total transaction of $55,900.00. Over the last ninety days, insiders have sold 24,156 shares of company stock worth $283,322. Corporate insiders own 10.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Magenta Therapeutics by 52.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,349 shares of the company’s stock valued at $79,000 after acquiring an additional 1,848 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new position in Magenta Therapeutics during the third quarter worth about $76,000. OneAscent Financial Services LLC acquired a new stake in shares of Magenta Therapeutics in the second quarter valued at approximately $166,000. Virtus ETF Advisers LLC purchased a new position in shares of Magenta Therapeutics during the 2nd quarter worth approximately $274,000. Finally, Wells Fargo & Company MN increased its stake in shares of Magenta Therapeutics by 253.1% during the 2nd quarter. Wells Fargo & Company MN now owns 30,021 shares of the company’s stock worth $443,000 after purchasing an additional 21,519 shares in the last quarter. Institutional investors own 63.42% 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.
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