Magenta Therapeutics (NASDAQ:MGTA) had its target price dropped by analysts at B. Riley from $21.00 to $19.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target indicates a potential upside of 135.44% from the company’s current price.
Several other research analysts have also recently weighed in on MGTA. Zacks Investment Research cut shares of Magenta Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, July 16th. BTIG Research initiated coverage on shares of Magenta Therapeutics in a report on Monday, June 14th. They issued a “buy” rating and a $20.00 price objective on the stock. Mizuho boosted their price target on shares of Magenta Therapeutics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, May 13th. Finally, Cantor Fitzgerald began coverage on Magenta Therapeutics in a research report on Tuesday, June 29th. They set an “overweight” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Magenta Therapeutics presently has an average rating of “Buy” and a consensus price target of $18.00.
MGTA opened at $8.07 on Thursday. The stock has a market cap of $472.18 million, a price-to-earnings ratio of -5.08 and a beta of 2.37. The stock’s 50 day simple moving average is $10.63. Magenta Therapeutics has a 12-month low of $6.03 and a 12-month high of $14.20.
Several hedge funds have recently made changes to their positions in MGTA. Bank of New York Mellon Corp boosted its stake in shares of Magenta Therapeutics by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 67,706 shares of the company’s stock valued at $531,000 after acquiring an additional 2,201 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Magenta Therapeutics by 53.0% in the 4th quarter. Wells Fargo & Company MN now owns 18,194 shares of the company’s stock worth $143,000 after purchasing an additional 6,302 shares during the period. Rhumbline Advisers raised its holdings in shares of Magenta Therapeutics by 26.9% during the 4th quarter. Rhumbline Advisers now owns 25,364 shares of the company’s stock valued at $199,000 after buying an additional 5,370 shares during the period. Citigroup Inc. raised its holdings in shares of Magenta Therapeutics by 30.5% during the 4th quarter. Citigroup Inc. now owns 6,619 shares of the company’s stock valued at $52,000 after buying an additional 1,547 shares during the period. Finally, Barclays PLC raised its holdings in shares of Magenta Therapeutics by 12.4% during the 4th quarter. Barclays PLC now owns 38,680 shares of the company’s stock valued at $304,000 after buying an additional 4,257 shares during the period. Institutional investors and hedge funds own 65.83% of the company’s stock.
About Magenta Therapeutics
Magenta Therapeutics, Inc, a clinical-stage biotechnology company, develops novel medicines to bring the curative power of stem cell transplant, gene therapy, genome editing, and cell therapy to patients. The company is developing C100 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 antibody-drug conjugate program to prevent prophylaxis of graft-versus-host diseases.
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