Market Analysts see Magenta Therapeutics Inc. [MGTA] gaining to $2. Time to buy?

Magenta Therapeutics Inc. [NASDAQ: MGTA] traded at a low on 12/01/22, posting a -0.87 loss after which it closed the day’ session at $1.14. The company report on November 3, 2022 that Magenta Therapeutics Reports Third Quarter Financial Results and Recent Program Highlights.

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– New clinical results from ongoing MGTA-117 Phase 1/2 clinical trial support earlier observations of target binding, target cell depletion, rapid drug clearance and a favorable tolerability profile; clinical trial has progressed into the third dose escalation cohort; oral presentation of clinical data will be given at the 2022 American Society of Hematology (ASH) meeting in December 2022 –.

– CD45 antibody-drug conjugate (ADC) dose-ranging toxicology study successfully completed; IND-enabling studies advancing; program update and development timeline guidance anticipated in December 2022 –.

The results of the trading session contributed to over 2638680 shares changing hands. Over the past one week, the price volatility of Magenta Therapeutics Inc. stands at 10.52% while the volatility over the past one month is 15.39%.

The market cap for MGTA stock reached $70.27 million, with 59.27 million shares outstanding and 59.20 million shares in the current float. Compared to the average trading volume of 153.01K shares, MGTA reached a trading volume of 2638680 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Magenta Therapeutics Inc. [MGTA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGTA shares is $5.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGTA stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Magenta Therapeutics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 25, 2022. While these analysts kept the previous recommendation, Goldman raised their target price from $7 to $8. The new note on the price target was released on January 06, 2022, representing the official price target for Magenta Therapeutics Inc. stock. Previously, the target price had yet another raise to $7, while Goldman analysts kept a Neutral rating on MGTA stock. On August 03, 2021, analysts decreased their price target for MGTA shares from 16 to 7.

The Average True Range (ATR) for Magenta Therapeutics Inc. is set at 0.17 The Price to Book ratio for the last quarter was 0.55, with the Price to Cash per share for the same quarter was set at 2.08.

How has MGTA stock performed recently?

Magenta Therapeutics Inc. [MGTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.72. With this latest performance, MGTA shares dropped by -8.06% in over the last four-week period, additionally sinking by -2.56% over the last 6 months – not to mention a drop of -79.27% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGTA stock in for the last two-week period is set at 43.06, with the RSI for the last a single of trading hit 40.52, and the three-weeks RSI is set at 44.11 for Magenta Therapeutics Inc. [MGTA]. The present Moving Average for the last 50 days of trading for this stock 1.2650, while it was recorded at 1.1360 for the last single week of trading, and 1.7614 for the last 200 days.

Magenta Therapeutics Inc. [MGTA]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -44.94, with Return on Assets sitting at -40.47.

Magenta Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.20 and a Current Ratio set at 10.20.

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