Magenta Therapeutics (MGTA) Reaches New 1-Year Low at $7.55

Magenta Therapeutics Inc (NASDAQ:MGTA)’s share price hit a new 52-week low on Thursday . The company traded as low as $7.55 and last traded at $8.23, with a volume of 200 shares trading hands. The stock had previously closed at $8.77.

MGTA has been the topic of a number of research analyst reports. Goldman Sachs Group initiated coverage on shares of Magenta Therapeutics in a report on Monday, July 16th. They issued a “buy” rating and a $18.00 price target on the stock. Zacks Investment Research raised shares of Magenta Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Cowen assumed coverage on shares of Magenta Therapeutics in a research report on Monday, July 16th. They issued an “outperform” rating for the company. Wedbush assumed coverage on shares of Magenta Therapeutics in a research report on Monday, July 16th. They issued an “outperform” rating and a $22.00 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Magenta Therapeutics in a research report on Monday, July 16th. They issued an “overweight” rating and a $18.00 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Magenta Therapeutics currently has a consensus rating of “Buy” and an average price target of $19.33.

Magenta Therapeutics (NASDAQ:MGTA) last posted its earnings results on Thursday, August 9th. The company reported ($3.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($2.03). On average, equities analysts anticipate that Magenta Therapeutics Inc will post -3.06 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Magenta Therapeutics in the 2nd quarter worth approximately $109,000. Point72 Asset Management L.P. acquired a new stake in shares of Magenta Therapeutics in the 2nd quarter worth approximately $109,000. Tiverton Asset Management LLC acquired a new stake in shares of Magenta Therapeutics in the 2nd quarter worth approximately $125,000. Northern Trust Corp acquired a new stake in shares of Magenta Therapeutics in the 2nd quarter worth approximately $179,000. Finally, Dean Capital Investments Management LLC acquired a new stake in shares of Magenta Therapeutics in the 2nd quarter worth approximately $558,000. 30.31% of the stock is owned by institutional investors.

About Magenta Therapeutics (NASDAQ:MGTA)

Magenta Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing medicines to bring the curative power of bone marrow transplant to patients. It is developing C100, C200, 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 ADC program to prevent acute graft and host diseases.

Featured Story: Outstanding Shares and The Effect on Share Price

Receive News & Ratings for Magenta Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magenta Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply