Zacks Investment Research upgraded shares of Magenta Therapeutics (NASDAQ:MGTA) from a hold rating to a buy rating in a report issued on Friday, Zacks.com reports. The brokerage currently has $14.00 target price on the stock.

According to Zacks, “Magenta Therapeutics Inc. is a clinical-stage biotechnology company. It engaged in developing therapeutics focused on critical areas of unmet need in the field of bone marrow transplant for patients with autoimmune diseases, blood cancers and genetic diseases. Magenta Therapeutics Inc. is headquartered in Cambridge, Mass. “

Separately, Wedbush set a $38.00 price target on shares of Obseva and gave the stock a buy rating in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Magenta Therapeutics currently has an average rating of Hold and an average target price of $17.33.

Shares of MGTA stock opened at $13.64 on Friday. Magenta Therapeutics has a one year low of $5.31 and a one year high of $21.00. The stock’s 50 day moving average is $13.89.

Magenta Therapeutics (NASDAQ:MGTA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.11. Equities research analysts expect that Magenta Therapeutics will post -2.03 EPS for the current fiscal year.

In other news, insider Jason Gardner sold 14,000 shares of the stock in a transaction on Friday, June 21st. The shares were 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 is accessible through this hyperlink. Also, insider Michael P. Cooke sold 7,500 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $13.90, for a total transaction of $104,250.00. The disclosure for this sale can be found here. Insiders have sold 29,000 shares of company stock valued at $423,790 in the last ninety days. 10.90% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Magenta Therapeutics in the first quarter worth $30,127,000. BlackRock Inc. increased its position in shares of Magenta Therapeutics by 224.2% in the fourth quarter. BlackRock Inc. now owns 556,381 shares of the company’s stock worth $3,170,000 after acquiring an additional 384,752 shares in the last quarter. Northern Trust Corp increased its position in shares of Magenta Therapeutics by 21.8% in the fourth quarter. Northern Trust Corp now owns 66,414 shares of the company’s stock worth $378,000 after acquiring an additional 11,893 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Magenta Therapeutics by 42.9% in the fourth quarter. Geode Capital Management LLC now owns 21,739 shares of the company’s stock worth $123,000 after acquiring an additional 6,525 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Magenta Therapeutics in the first quarter worth $329,000. 63.62% of the stock is owned by institutional investors.

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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