MeiraGTx (NASDAQ:MGTX) Sets New 52-Week High - What's Next?

MeiraGTx Holdings plc (NASDAQ:MGTX - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $7.37 and last traded at $7.11, with a volume of 66948 shares traded. The stock had previously closed at $6.83.

Analyst Ratings Changes

MGTX has been the subject of a number of recent research reports. Chardan Capital reissued a "buy" rating and set a $36.00 price objective on shares of MeiraGTx in a research report on Monday. Royal Bank of Canada boosted their price target on MeiraGTx from $9.00 to $11.00 and gave the company an "outperform" rating in a report on Thursday, November 14th.

MeiraGTx Stock Performance

The company has a market cap of $557.23 million, a P/E ratio of -5.89, a PEG ratio of 0.37 and a beta of 1.25. The business's 50 day simple moving average is $6.34 and its 200 day simple moving average is $5.57. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86.

Insider Activity

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Alexandria Forbes sold 35,839 shares of the firm's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $6.47, for a total value of $231,878.33. Following the sale, the chief executive officer now directly owns 1,395,102 shares in the company, valued at approximately $9,026,309.94. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGTX. SG Americas Securities LLC bought a new position in shares of MeiraGTx during the third quarter worth $82,000. China Universal Asset Management Co. Ltd. lifted its stake in MeiraGTx by 97.0% in the 3rd 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 in the last quarter. Privium Fund Management B.V. boosted its holdings in shares of 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 last quarter. Royce & Associates LP grew its position in shares of MeiraGTx by 5.3% during the third quarter. Royce & Associates LP now owns 795,392 shares of the company's stock valued at $3,317,000 after purchasing an additional 40,000 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of MeiraGTx by 142.5% in the third quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company's stock worth $39,000 after purchasing an additional 5,476 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors.

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.