Magenta Therapeutics Inc (NASDAQ:MGTA) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,620,300 shares, an increase of 10.0% from the June 15th total of 1,473,400 shares. Based on an average daily volume of 151,700 shares, the days-to-cover ratio is presently 10.7 days. Currently, 11.4% of the shares of the company are sold short.

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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Over the last ninety days, insiders sold 29,000 shares of company stock valued at $423,790. 10.90% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in MGTA. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Magenta Therapeutics in the first quarter valued at $30,127,000. BlackRock Inc. boosted its holdings 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 acquiring an additional 384,752 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Magenta Therapeutics in the first quarter valued at about $329,000. Two Sigma Investments LP bought a new position in Magenta Therapeutics in the fourth quarter valued at about $104,000. Finally, Bank of New York Mellon Corp bought a new position in Magenta Therapeutics in the fourth quarter valued at about $90,000. Institutional investors own 63.62% of the company’s stock.

MGTA has been the subject of several recent analyst reports. Wedbush set a $38.00 price objective on Obseva and gave the stock a “buy” rating in a research note on Friday, May 10th. Zacks Investment Research lowered ZEALAND PHARMA/S from a “buy” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $17.33.

Shares of NASDAQ:MGTA remained flat at $$13.17 during midday trading on Friday. The stock had a trading volume of 50,588 shares, compared to its average volume of 121,524. Magenta Therapeutics has a 52 week low of $5.31 and a 52 week high of $21.00. The firm has a fifty day moving average price of $13.91.

Magenta Therapeutics (NASDAQ:MGTA) last announced its earnings results on Thursday, May 9th. The company reported ($0.44) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.11. Sell-side analysts forecast that Magenta Therapeutics will post -2.03 EPS for the current fiscal year.

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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