Cowen & Co. Sticks to Its Buy Rating for Magenta Therapeutics (MGTA)

By Austin Angelo

Cowen & Co. analyst Marc Frahm reiterated a Buy rating on Magenta Therapeutics (MGTAResearch Report) today. The company’s shares closed last Monday at $11.15.

According to TipRanks.com, Frahm is a 2-star analyst with an average return of 0.5% and a 49.2% success rate. Frahm covers the Healthcare sector, focusing on stocks such as Adaptimmune Therapeutics, Allogene Therapeutics, and Scholar Rock Holding.

The the analyst consensus on Magenta Therapeutics is currently a Moderate Buy rating.

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Based on Magenta Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $17.71 million. In comparison, last year the company had a GAAP net loss of $16.02 million.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGTA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Magenta Therapeutics, Inc. is a clinical-stage biotechnology company, which engages in the development of novel medicines for bone marrow transplants. It offers platform that focuses on critical areas of transplant medicine.