ValuEngine Downgrades Magenta Therapeutics (NASDAQ:MGTA) to Sell

Magenta Therapeutics (NASDAQ:MGTA) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, ValuEngine reports.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Magenta Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Cowen reaffirmed a “buy” rating on shares of Magenta Therapeutics in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Magenta Therapeutics presently has an average rating of “Hold” and a consensus price target of $16.33.

MGTA stock traded up $2.51 during trading hours on Wednesday, hitting $13.01. 298,500 shares of the stock traded hands, compared to its average volume of 126,386. The stock has a 50-day simple moving average of $10.08 and a 200 day simple moving average of $12.42. Magenta Therapeutics has a one year low of $5.31 and a one year high of $21.00. The company has a market cap of $367.28 million, a P/E ratio of -4.16 and a beta of 3.12.

Magenta Therapeutics (NASDAQ:MGTA) last released its earnings results on Wednesday, November 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.54). On average, equities research analysts anticipate that Magenta Therapeutics will post -2.01 earnings per share for the current year.

In other news, insider Michael P. Cooke sold 5,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.01, for a total transaction of $50,050.00. Insiders have sold a total of 16,656 shares of company stock valued at $176,372 in the last quarter. Insiders own 10.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MGTA. Wells Fargo & Company MN grew its holdings in shares of Magenta Therapeutics by 253.1% in the 2nd quarter. Wells Fargo & Company MN now owns 30,021 shares of the company’s stock worth $443,000 after acquiring an additional 21,519 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Magenta Therapeutics by 52.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,349 shares of the company’s stock valued at $79,000 after purchasing an additional 1,848 shares during the period. Alps Advisors Inc. acquired a new position in shares of Magenta Therapeutics in the 2nd quarter valued at $1,190,000. Charles Schwab Investment Management Inc. increased its stake in Magenta Therapeutics by 35.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 43,202 shares of the company’s stock worth $638,000 after purchasing an additional 11,205 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Magenta Therapeutics by 23.2% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 63.70% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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