Equities research analysts expect Magenta Therapeutics Inc (NASDAQ:MGTA) to announce earnings of ($0.49) per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Magenta Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.51) and the highest estimate coming in at ($0.47). Magenta Therapeutics posted earnings per share of ($3.13) in the same quarter last year, which suggests a positive year over year growth rate of 84.3%. The company is scheduled to report its next earnings report on Thursday, August 8th.
According to Zacks, analysts expect that Magenta Therapeutics will report full year earnings of ($2.03) per share for the current year, with EPS estimates ranging from ($2.26) to ($1.92). For the next financial year, analysts expect that the company will report earnings of ($2.24) per share, with EPS estimates ranging from ($2.57) to ($1.71). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Magenta Therapeutics.
Magenta Therapeutics (NASDAQ:MGTA) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.44) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.11.
Several brokerages recently weighed in on MGTA. Goldman Sachs Group cut shares of Magenta Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $17.00 to $16.00 in a research report on Sunday, March 24th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Jack Henry & Associates from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Finally, Wedbush set a $38.00 price target on shares of Obseva and gave the company a “buy” rating in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Magenta Therapeutics presently has an average rating of “Hold” and an average price target of $19.33.
In other Magenta Therapeutics news, insider Michael P. Cooke sold 7,500 shares of Magenta Therapeutics stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $13.90, for a total transaction of $104,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason Gardner sold 14,000 shares of Magenta Therapeutics stock in a transaction that occurred on Friday, June 21st. The stock was 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 have sold 29,000 shares of company stock worth $423,790. Insiders own 10.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of MGTA. New York State Common Retirement Fund acquired a new position in Magenta Therapeutics in the fourth quarter valued at about $27,000. BlackRock Inc. lifted its position in Magenta Therapeutics by 224.2% in the fourth quarter. BlackRock Inc. now owns 556,381 shares of the company’s stock valued at $3,170,000 after buying an additional 384,752 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Magenta Therapeutics in the fourth quarter valued at about $90,000. Northern Trust Corp lifted its position in Magenta Therapeutics by 21.8% in the fourth quarter. Northern Trust Corp now owns 66,414 shares of the company’s stock valued at $378,000 after buying an additional 11,893 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Magenta Therapeutics by 42.9% in the fourth quarter. Geode Capital Management LLC now owns 21,739 shares of the company’s stock valued at $123,000 after buying an additional 6,525 shares during the last quarter. 63.62% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ MGTA traded up $0.02 during trading hours on Friday, hitting $13.32. The company’s stock had a trading volume of 112 shares, compared to its average volume of 123,762. Magenta Therapeutics has a 52 week low of $5.31 and a 52 week high of $21.00. The stock has a market capitalization of $448.60 million and a P/E ratio of -4.18. The company’s 50-day moving average price is $14.23.
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.
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