Harvard Management Co. Inc. decreased its holdings in Magenta Therapeutics Inc (NASDAQ:MGTA) by 19.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 332,610 shares of the company’s stock after selling 78,769 shares during the quarter. Magenta Therapeutics makes up 1.4% of Harvard Management Co. Inc.’s portfolio, making the stock its 10th biggest position. Harvard Management Co. Inc. owned 0.97% of Magenta Therapeutics worth $5,478,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Rhumbline Advisers bought a new position in Magenta Therapeutics during the 1st quarter valued at about $253,000. BNP Paribas Arbitrage SA bought a new position in Magenta Therapeutics during the 1st quarter valued at about $50,000. Oppenheimer & Co. Inc. bought a new position in Magenta Therapeutics during the 1st quarter valued at about $329,000. Aries Wealth Management bought a new position in Magenta Therapeutics during the 1st quarter valued at about $198,000. Finally, Two Sigma Investments LP bought a new position in Magenta Therapeutics during the 4th quarter valued at about $104,000. Institutional investors and hedge funds own 63.62% of the company’s stock.
Shares of NASDAQ MGTA traded down $0.54 during midday trading on Wednesday, reaching $14.26. 73,500 shares of the stock traded hands, compared to its average volume of 165,529. The company has a market capitalization of $504.46 million and a PE ratio of -4.56. Magenta Therapeutics Inc has a one year low of $5.31 and a one year high of $21.00. The stock has a 50 day moving average of $15.36.
Magenta Therapeutics (NASDAQ:MGTA) last posted its earnings results on Thursday, May 9th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.11. Analysts anticipate that Magenta Therapeutics Inc will post -2.03 earnings per share for the current year.
In related news, insider Jason Gardner sold 14,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $15.11, for a total value of $211,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael P. Cooke sold 7,500 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $13.90, for a total value of $104,250.00. The disclosure for this sale can be found here. 10.90% of the stock is owned by company insiders.
Several equities analysts have issued reports on MGTA shares. Raymond James initiated coverage on shares of Magenta Therapeutics in a research note on Thursday, March 14th. They set an “outperform” rating on the stock. Goldman Sachs Group lowered shares of Magenta Therapeutics from a “buy” rating to a “neutral” rating and reduced 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 Magenta Therapeutics from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Saturday, March 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $22.00 price target on shares of Magenta Therapeutics in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $19.00.
About Magenta Therapeutics
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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