Wall Street brokerages forecast that Magenta Therapeutics Inc (NASDAQ:MGTA) will post earnings per share (EPS) of ($0.49) for the current quarter, Zacks reports. Zero analysts have provided estimates for Magenta Therapeutics’ earnings, with estimates ranging from ($0.51) to ($0.47). Magenta Therapeutics reported earnings per share of ($3.13) during the same quarter last year, which would indicate a positive year over year growth rate of 84.3%. The firm is scheduled to report its next quarterly earnings results 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 financial year, with EPS estimates ranging from ($2.26) to ($1.92). For the next financial year, analysts forecast that the company will report earnings of ($2.24) per share, with EPS estimates ranging from ($2.57) to ($1.71). Zacks’ EPS averages are an average based on a survey of research analysts that cover Magenta Therapeutics.
Magenta Therapeutics (NASDAQ:MGTA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.11.
Several equities analysts have weighed in on the company. Wedbush set a $38.00 price target on Obseva and gave the company a “buy” rating in a report on Friday, May 10th. Goldman Sachs Group cut Magenta Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $17.00 to $16.00 in a report on Sunday, March 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Zafgen from a “buy” rating to a “hold” rating in a report on Saturday. 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 has an average rating of “Hold” and a consensus price target of $17.67.
In other news, insider Jason Gardner sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $15.11, for a total value of $211,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael P. Cooke sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $14.40, for a total value of $108,000.00. The disclosure for this sale can be found here. Insiders sold a total of 29,000 shares of company stock valued at $423,790 over the last ninety days. Corporate insiders own 10.90% of the company’s stock.
Several large investors have recently bought and sold shares of the company. New York State Common Retirement Fund bought a new position in Magenta Therapeutics during the 4th quarter valued at $27,000. BlackRock Inc. lifted its stake in Magenta Therapeutics by 224.2% during the 4th quarter. BlackRock Inc. now owns 556,381 shares of the company’s stock valued at $3,170,000 after acquiring an additional 384,752 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Magenta Therapeutics during the 4th quarter valued at $90,000. Northern Trust Corp lifted its stake in Magenta Therapeutics by 21.8% during the 4th quarter. Northern Trust Corp now owns 66,414 shares of the company’s stock valued at $378,000 after acquiring an additional 11,893 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Magenta Therapeutics by 42.9% during the 4th quarter. Geode Capital Management LLC now owns 21,739 shares of the company’s stock valued at $123,000 after acquiring an additional 6,525 shares in the last quarter. 63.62% of the stock is owned by institutional investors and hedge funds.
NASDAQ MGTA traded down $0.75 during trading on Friday, hitting $12.82. 117,568 shares of the stock traded hands, compared to its average volume of 128,334. The firm has a market capitalization of $456.68 million and a P/E ratio of -4.10. The company has a 50-day moving average of $14.13. Magenta Therapeutics has a 12-month low of $5.31 and a 12-month high of $21.00.
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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