Magenta Therapeutics (NASDAQ:MGTA) Receives Neutral Rating from Goldman Sachs Group

09 Dec 2019, 13:21 by Kim Johansen

Goldman Sachs Group reaffirmed their neutral rating on shares of Magenta Therapeutics (NASDAQ:MGTA) in a research note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has a $18.00 price objective on the stock.

MGTA has been the subject of several other reports. ValuEngine cut Magenta Therapeutics from a hold rating to a sell rating in a report on Wednesday, November 20th. Cowen reaffirmed a buy rating on shares of Magenta Therapeutics in a research note on Wednesday, November 13th. Finally, Zacks Investment Research cut Magenta Therapeutics from a buy rating to a hold rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock 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 1 year low of $5.31 and a 1 year high of $21.00. The stock has a 50 day simple moving average of $11.14 and a two-hundred day simple moving average of $12.23. The firm has a market cap of $518.17 million, a P/E ratio of -4.25 and a beta of 3.24.

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

In related news, insider Michael P. Cooke sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $11.18, for a total transaction of $55,900.00. Also, insider Michael P. Cooke sold 7,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $13.00, for a total transaction of $97,500.00. Following the completion of the transaction, the insider now directly owns 244,396 shares of the company’s stock, valued at $3,177,148. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,156 shares of company stock worth $283,322. Corporate insiders own 10.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. purchased a new stake in Magenta Therapeutics in the third quarter worth about $631,000. Vanguard Group Inc. raised its stake in Magenta Therapeutics by 75.4% during the second quarter. Vanguard Group Inc. now owns 884,348 shares of the company’s stock valued at $13,045,000 after buying an additional 380,135 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Magenta Therapeutics in the second quarter worth $1,190,000. Virtus ETF Advisers LLC bought a new position in shares of Magenta Therapeutics during the second quarter valued at $274,000. Finally, BlackRock Inc. raised its position in shares of Magenta Therapeutics by 43.0% in the 2nd quarter. BlackRock Inc. now owns 1,623,423 shares of the company’s stock worth $23,944,000 after purchasing an additional 488,065 shares during the last quarter. 63.42% of the stock is currently owned by institutional investors and hedge funds.

Magenta Therapeutics Company Profile

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.