Magenta Therapeutics (NASDAQ:MGTA) Trading 9.5% Higher

Shares of Magenta Therapeutics Inc (NASDAQ:MGTA) traded up 9.5% during trading on Wednesday . The stock traded as high as $11.68 and last traded at $11.56, 127,421 shares changed hands during trading. A decline of 11% from the average session volume of 142,818 shares. The stock had previously closed at $10.56.

A number of analysts have recently weighed in on MGTA shares. Cowen restated a “buy” rating on shares of Magenta Therapeutics in a report on Thursday, August 8th. Zacks Investment Research lowered shares of Magenta Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Finally, ValuEngine upgraded shares of Magenta Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $17.33.

The stock has a market cap of $388.27 million, a PE ratio of -3.69 and a beta of 3.15. The firm has a fifty day moving average price of $11.53 and a 200 day moving average price of $14.33.

Magenta Therapeutics (NASDAQ:MGTA) last announced its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.01. On average, research analysts expect that Magenta Therapeutics Inc will post -2.01 earnings per share for the current year.

In other news, insider Michael P. Cooke sold 7,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $14.40, for a total transaction of $108,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason Gardner sold 14,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $15.11, for a total transaction of $211,540.00. The disclosure for this sale can be found here. In the last three months, insiders sold 41,500 shares of company stock valued at $574,990. Corporate insiders own 10.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Magenta Therapeutics by 42.9% in the fourth quarter. Geode Capital Management LLC now owns 21,739 shares of the company’s stock worth $123,000 after acquiring an additional 6,525 shares during the period. BNP Paribas Arbitrage SA bought a new stake in shares of Magenta Therapeutics during the 1st quarter worth approximately $50,000. Rhumbline Advisers purchased a new position in Magenta Therapeutics during the 1st quarter valued at $253,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Magenta Therapeutics during the 1st quarter valued at $30,127,000. Finally, Wells Fargo & Company MN boosted its holdings in Magenta Therapeutics by 253.1% during the 2nd quarter. Wells Fargo & Company MN now owns 30,021 shares of the company’s stock valued at $443,000 after acquiring an additional 21,519 shares during the period. Institutional investors own 63.83% of the company’s stock.

Magenta Therapeutics Company Profile (NASDAQ:MGTA)

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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