why Magenta Therapeutics Inc. [MGTA] is a Good Choice for Investors After New Price Target of $5.00

Magenta Therapeutics Inc. [NASDAQ: MGTA] traded at a low on 12/20/22, posting a -52.71 loss after which it closed the day’ session at $0.39. The company report on December 20, 2022 that Magenta Therapeutics Provides Update for MGTA-117 Phase 1/2 Dose Escalation Clinical Trial.

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– Cohort 4 Dosing Stopped per Clinical Trial Protocol due to Dose-Limiting Toxicities –.

– Plan to Dose Additional Participants in Cohort 3 per Clinical Trial Protocol –.

The results of the trading session contributed to over 7050922 shares changing hands. Over the past one week, the price volatility of Magenta Therapeutics Inc. stands at 24.34% while the volatility over the past one month is 18.34%.

The market cap for MGTA stock reached $25.23 million, with 59.27 million shares outstanding and 59.19 million shares in the current float. Compared to the average trading volume of 897.02K shares, MGTA reached a trading volume of 7050922 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 0.22 The Price to Book ratio for the last quarter was 0.19, with the Price to Cash per share for the same quarter was set at 2.00.

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 -62.97. With this latest performance, MGTA shares dropped by -74.68% in over the last four-week period, additionally sinking by -71.96% over the last 6 months – not to mention a drop of -92.24% 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 22.15, with the RSI for the last a single of trading hit 14.87, and the three-weeks RSI is set at 27.43 for Magenta Therapeutics Inc. [MGTA]. The present Moving Average for the last 50 days of trading for this stock 1.1852, while it was recorded at 0.8196 for the last single week of trading, and 1.6439 for the last 200 days.

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

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.

Insider trade positions for Magenta Therapeutics Inc. [MGTA]

There are presently around $18 million, or 77.10% of MGTA stock, in the hands of institutional investors. The top three institutional holders of MGTA stocks are: TRV GP IV, LLC with ownership of 6,758,204, which is approximately 0% of the company’s market cap and around 0.60% of the total institutional ownership; DEEP TRACK CAPITAL, LP, holding 5,359,000 shares of the stock with an approximate value of $2.11 million in MGTA stocks shares; and RA CAPITAL MANAGEMENT, L.P., currently with $1.41 million in MGTA stock with ownership of nearly New of the company’s market capitalization.

28 institutional holders increased their position in Magenta Therapeutics Inc. [NASDAQ:MGTA] by around 4,989,317 shares. Additionally, 32 investors decreased positions by around 3,930,297 shares, while 24 investors held positions by with 37,556,478 shares. The mentioned changes placed institutional holdings at 46,476,092 shares, according to the latest SEC report filing. MGTA stock had 12 new institutional investments in for a total of 3,724,862 shares, while 8 institutional investors sold positions of 383,015 shares during the same period.

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