Magenta Therapeutics Inc (MGTA) Expected to Announce Earnings of -$0.44 Per Share

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Analysts predict that Magenta Therapeutics Inc (NASDAQ:MGTA) will announce ($0.44) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Magenta Therapeutics’ earnings. The lowest EPS estimate is ($0.46) and the highest is ($0.42). The firm is expected to report its next earnings results on Thursday, November 8th.

On average, analysts expect that Magenta Therapeutics will report full-year earnings of ($2.80) per share for the current year, with EPS estimates ranging from ($2.96) to ($2.63). For the next fiscal year, analysts expect that the business will report earnings of ($1.82) per share, with EPS estimates ranging from ($2.35) to ($1.02). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Magenta Therapeutics.

Magenta Therapeutics (NASDAQ:MGTA) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($3.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($2.03).

Several brokerages have issued reports on MGTA. Cowen began coverage on shares of Magenta Therapeutics in a research note on Monday, July 16th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. began coverage on shares of Magenta Therapeutics in a research note on Monday, July 16th. They issued an “overweight” rating and a $18.00 price target on the stock. Goldman Sachs Group began coverage on shares of Magenta Therapeutics in a research note on Monday, July 16th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Wedbush began coverage on shares of Magenta Therapeutics in a research note on Monday, July 16th. They issued an “outperform” rating and a $22.00 price target on the stock.

Shares of MGTA stock opened at $12.61 on Wednesday. Magenta Therapeutics has a 1 year low of $11.45 and a 1 year high of $16.33.

In other news, Director David Scadden acquired 6,600 shares of the stock in a transaction dated Monday, June 25th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $99,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Several institutional investors have recently added to or reduced their stakes in the company. Casdin Capital LLC acquired a new position in shares of Magenta Therapeutics during the 2nd quarter worth about $27,484,000. Opaleye Management Inc. acquired a new position in shares of Magenta Therapeutics during the 2nd quarter worth about $7,425,000. Laurion Capital Management LP acquired a new position in shares of Magenta Therapeutics during the 2nd quarter worth about $4,725,000. Harvard Management Co. Inc. acquired a new position in shares of Magenta Therapeutics during the 2nd quarter worth about $4,490,000. Finally, Voya Investment Management LLC acquired a new position in shares of Magenta Therapeutics during the 2nd quarter worth about $3,387,000. Institutional investors own 30.27% of the company’s stock.

About Magenta Therapeutics

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.

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Earnings History and Estimates for Magenta Therapeutics (NASDAQ:MGTA)

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