Magenta Therapeutics (NASDAQ: MGTA) was featured in a recent equity research report published by Mizuho Securities USA LLC. The report reads, “We are updating our MGTA company model after assuming research coverage of the company and also incorporating updates related to the company’s revised operating plan. We agree with their efforts to emphasize the MGTA-117 targeted conditioning program, given its potentially transformative nature. Management will also continue IND-enabling activities for their CD45-ADC and MGTA-145 stem cell mobilization efforts in sickle cell disease but will de-prioritize other investments to navigate the challenging capital market environment and extend their expected cash runway into 2Q 2024 (from 4Q 2023). Our model updates lower our DCF-derived price target to $8 (from $17), but we maintain our Buy rating given the potential upside from the current valuation.”
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About Magenta Therapeutics Inc.
Magenta Therapeutics is a clinical-stage biotechnology company developing medicines designed to bring the curative power of stem cell transplant to more patients with blood cancers, genetic diseases and autoimmune diseases. Magenta is combining leadership in stem cell biology and biotherapeutics development with clinical and regulatory expertise to revolutionize immune and blood reset to allow more patients to take advantage of the curative potential of stem cell transplant as well as potentially improve eligibility for future gene therapies. Magenta is based in Cambridge, Mass. For more information, visit the company’s website at www.Magentatx.com.
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