MeiraGTx (NASDAQ:MGTX) Receives "Buy" Rating from Chardan Capital

Chardan Capital reiterated their buy rating on shares of MeiraGTx (NASDAQ:MGTX - Free Report) in a report released on Monday,Benzinga reports. They currently have a $36.00 target price on the stock.

Separately, Royal Bank of Canada upped their target price on MeiraGTx from $9.00 to $11.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th.

MeiraGTx Stock Down 4.5 %

Shares of NASDAQ:MGTX traded down $0.33 during trading on Monday, reaching $6.98. 332,598 shares of the company traded hands, compared to its average volume of 307,182. MeiraGTx has a 1-year low of $3.85 and a 1-year high of $7.80. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. The firm has a market cap of $545.51 million, a P/E ratio of -5.77, a price-to-earnings-growth ratio of 0.37 and a beta of 1.25. The firm has a fifty day simple moving average of $6.41 and a 200 day simple moving average of $5.61.

Insider Transactions at MeiraGTx

In other news, CFO Richard Giroux sold 24,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total transaction of $150,960.00. Following the completion of the sale, the chief financial officer now owns 849,947 shares in the company, valued at approximately $5,346,166.63. This represents a 2.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Alexandria Forbes sold 35,839 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $6.47, for a total value of $231,878.33. Following the completion of the transaction, the chief executive officer now directly owns 1,395,102 shares in the company, valued at $9,026,309.94. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MeiraGTx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in MeiraGTx in the 3rd quarter valued at $82,000. China Universal Asset Management Co. Ltd. increased its stake in shares of MeiraGTx by 97.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,886 shares of the company's stock worth $62,000 after purchasing an additional 7,330 shares during the period. Privium Fund Management B.V. boosted its stake in MeiraGTx by 4.9% during the 3rd quarter. Privium Fund Management B.V. now owns 213,960 shares of the company's stock valued at $892,000 after purchasing an additional 10,000 shares during the period. Royce & Associates LP grew its holdings in MeiraGTx by 5.3% in the 3rd quarter. Royce & Associates LP now owns 795,392 shares of the company's stock valued at $3,317,000 after buying an additional 40,000 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in MeiraGTx by 142.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company's stock worth $39,000 after buying an additional 5,476 shares during the period. Institutional investors and hedge funds own 67.48% of the company's stock.

MeiraGTx Company Profile

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia.