Magenta Therapeutics (MGTA) Receives a Buy from Cowen & Co.

By Jason Carr

Cowen & Co. analyst Marc Frahm maintained a Buy rating on Magenta Therapeutics (MGTAResearch Report) yesterday. The company’s shares closed last Monday at $13.59.

According to TipRanks.com, Frahm is a 4-star analyst with an average return of 12.3% and a 53.5% success rate. Frahm covers the Healthcare sector, focusing on stocks such as Adaptimmune Therapeutics, Allogene Therapeutics, and Odonate Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Magenta Therapeutics with a $19.00 average price target.

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The company has a one-year high of $21.00 and a one-year low of $6.01. Currently, Magenta Therapeutics has an average volume of 126K.

Based on the recent corporate insider activity of 28 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.