Analysts Set Magenta Therapeutics, Inc. (NASDAQ:MGTA) PT at $5.00

Shares of Magenta Therapeutics, Inc. (NASDAQ:MGTA – Get Rating) have been assigned an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $5.00.

A number of research analysts have recently commented on the stock. BTIG Research cut shares of Magenta Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, January 26th. Wedbush downgraded shares of Magenta Therapeutics from an “outperform” rating to a “neutral” rating in a report on Thursday, January 26th. Cowen restated a “market perform” rating on shares of Magenta Therapeutics in a research note on Thursday, January 26th. Finally, HC Wainwright began coverage on Magenta Therapeutics in a report on Tuesday. They set a “neutral” rating for the company.

Insider Transactions at Magenta Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 2,200,000 shares of the business’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $0.83, for a total value of $1,826,000.00. Following the completion of the sale, the insider now directly owns 4,558,204 shares of the company’s stock, valued at approximately $3,783,309.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.18% of the company’s stock.

Hedge Funds Weigh In On Magenta Therapeutics

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its stake in shares of Magenta Therapeutics by 190.4% in the 1st quarter. Acadian Asset Management LLC now owns 19,272 shares of the company’s stock valued at $55,000 after purchasing an additional 12,635 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Magenta Therapeutics by 496.9% during the second quarter. BNP Paribas Arbitrage SA now owns 27,834 shares of the company’s stock worth $33,000 after purchasing an additional 23,171 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Magenta Therapeutics in the second quarter valued at approximately $40,000. Citadel Advisors LLC bought a new stake in Magenta Therapeutics in the third quarter valued at approximately $56,000. Finally, Walleye Capital LLC increased its position in shares of Magenta Therapeutics by 47.7% during the first quarter. Walleye Capital LLC now owns 41,341 shares of the company’s stock worth $120,000 after acquiring an additional 13,356 shares in the last quarter. Institutional investors own 76.68% of the company’s stock.

Magenta Therapeutics Stock Up 0.6 %

Shares of MGTA stock opened at $0.80 on Tuesday. The firm has a market cap of $48.45 million, a PE ratio of -0.63 and a beta of 2.10. The company’s fifty day simple moving average is $0.61 and its 200-day simple moving average is $1.10. Magenta Therapeutics has a 12 month low of $0.32 and a 12 month high of $3.62.

About Magenta Therapeutics

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Magenta Therapeutics, Inc is a clinical-stage biotechnology company, which engages in the development of novel medicines for bone marrow transplants. It offers patient preparation, stem cell collection, cell dose, and safe immune regeneration programs. Its platform include autologous and allogeneic transplant, and gene therapy.