Michael P. Cooke Sells 7,500 Shares of Magenta Therapeutics Inc (NASDAQ:MGTA) Stock

Magenta Therapeutics Inc (NASDAQ:MGTA) insider Michael P. Cooke sold 7,500 shares of the business’s 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 sale, the insider now owns 244,396 shares in the company, valued at $3,177,148. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of MGTA stock opened at $13.33 on Wednesday. The stock has a 50-day simple moving average of $10.94 and a 200 day simple moving average of $12.28. Magenta Therapeutics Inc has a fifty-two week low of $5.31 and a fifty-two week high of $21.00. The stock has a market capitalization of $519.74 million, a P/E ratio of -4.26 and a beta of 3.24.

Magenta Therapeutics (NASDAQ:MGTA) last issued its quarterly earnings results on Wednesday, November 13th. The company reported ($0.54) EPS for the quarter, hitting the consensus estimate of ($0.54). Sell-side analysts expect that Magenta Therapeutics Inc will post -2.01 EPS for the current year.

MGTA has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Magenta Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Cowen reissued a “buy” rating on shares of Magenta Therapeutics in a report on Wednesday, November 13th. Finally, ValuEngine downgraded Magenta Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.33.

Large investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake 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. Vanguard Group Inc. boosted its holdings in Magenta Therapeutics by 75.4% during the second quarter. Vanguard Group Inc. now owns 884,348 shares of the company’s stock worth $13,045,000 after buying an additional 380,135 shares in the last quarter. Laurion Capital Management LP boosted its holdings in Magenta Therapeutics by 1,199.4% during the second quarter. Laurion Capital Management LP now owns 143,544 shares of the company’s stock worth $2,117,000 after buying an additional 132,497 shares in the last quarter. Alps Advisors Inc. acquired a new position in Magenta Therapeutics in the second quarter worth approximately $1,190,000. Finally, Russell Investments Group Ltd. acquired a new position in Magenta Therapeutics in the third quarter worth approximately $631,000. Institutional investors own 64.81% of the company’s stock.

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.

Further Reading: Compound Interest

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