Magenta Therapeutics Inc. (NASDAQ:MGTA) marked $0.51 per share on Friday, up from a previous closing price of $0.49. While Magenta Therapeutics Inc. has overperformed by 5.00%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MGTA fell by -87.89%, with highs and lows ranging from $4.36 to $0.32, whereas the simple moving average fell by -63.29% in the last 200 days.
On August 25, 2022, Goldman Downgraded Magenta Therapeutics Inc. (NASDAQ: MGTA) to Neutral. A report published by Goldman on January 06, 2022, Upgraded its rating to ‘Buy’ for MGTA. Goldman also rated MGTA shares as ‘Neutral’, setting a target price of $7 on the company’s shares in an initiating report dated August 20, 2021. JP Morgan August 03, 2021d the rating to Neutral on August 03, 2021, and set its price target from $16 to $7. B. Riley Securities resumed its ‘Buy’ rating for MGTA, as published in its report on July 22, 2021. Cantor Fitzgerald’s report from June 29, 2021 suggests a price prediction of $20 for MGTA shares, giving the stock a ‘Overweight’ rating. BTIG Research also rated the stock as ‘Buy’.
Analysis of Magenta Therapeutics Inc. (MGTA)
In order to gain a clear picture of Magenta Therapeutics Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -51.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 10.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.55M can be a very valuable indicator of volatility for MGTA stock. On a monthly basis, the volatility of the stock is set at 15.28%, whereas on a weekly basis, it is put at 12.00%, with a gain of 0.63% over the past seven days. Furthermore, long-term investors anticipate a median target price of $2.67, showing growth from the present price of $0.51, which can serve as yet another indication of whether MGTA is worth investing in or should be passed over.
How Do You Analyze Magenta Therapeutics Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 77.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in MGTA shares?
The recent increase in stakes in MGTA appears to be a result of several institutional investors and hedge funds increasing their positions. During the last quarter, the company picked up 3,588,081 additional shares for a total stake of worth $1.42 million, bringing number of shares owned by the company to 3,588,081.
At the end of the first quarter, Millennium Management LLC increased its MGTA holdings by 11.73% and now holds 2.1 million MGTA shares valued at $0.83 million with the added 0.22 million shares during the period. MGTA shares are owned by institutional investors to the tune of 77.10% at present.