Goldman Sachs Group lowered shares of Magenta Therapeutics (NASDAQ:MGTA) from a buy rating to a neutral rating in a report issued on Sunday, Marketbeat reports. The firm currently has $16.00 price target on the stock, down from their previous price target of $17.00. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Magenta Therapeutics from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Saturday, March 23rd. Raymond James started coverage on Magenta Therapeutics in a research report on Thursday, March 14th. They issued an outperform rating on the stock. Finally, ValuEngine downgraded Magenta Therapeutics from a buy rating to a hold rating in a research report on Friday, January 4th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $19.00.

Shares of MGTA stock opened at $17.25 on Friday. The company has a market cap of $577.36 million and a price-to-earnings ratio of -5.51. Magenta Therapeutics has a 12-month low of $5.31 and a 12-month high of $21.00.

Magenta Therapeutics (NASDAQ:MGTA) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.03. As a group, equities analysts forecast that Magenta Therapeutics will post -2.29 EPS for the current fiscal year.

In other news, Director Bruce Booth sold 14,245 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $17.86, for a total value of $254,415.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Magenta Therapeutics by 42.9% during the fourth quarter. Geode Capital Management LLC now owns 21,739 shares of the company’s stock worth $123,000 after buying an additional 6,525 shares in the last quarter. Two Sigma Investments LP purchased a new position in Magenta Therapeutics during the fourth quarter worth approximately $104,000. Casdin Capital LLC lifted its position in Magenta Therapeutics by 17.4% during the fourth quarter. Casdin Capital LLC now owns 2,643,317 shares of the company’s stock worth $15,067,000 after buying an additional 392,499 shares in the last quarter. Bessemer Group Inc. purchased a new position in Magenta Therapeutics during the fourth quarter worth approximately $1,352,000. Finally, Northern Trust Corp lifted its position in Magenta Therapeutics by 21.8% during the fourth quarter. Northern Trust Corp now owns 66,414 shares of the company’s stock worth $378,000 after buying an additional 11,893 shares in the last quarter. Hedge funds and other institutional investors own 56.34% of the company’s stock.

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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Analyst Recommendations for Magenta Therapeutics (NASDAQ:MGTA)

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