MeiraGTx Holdings plc (NASDAQ:MGTX - Get Free Report)'s share price traded up 11.9% during mid-day trading on Tuesday . The company traded as high as $6.34 and last traded at $6.32. 622,170 shares changed hands during trading, an increase of 95% from the average session volume of 319,486 shares. The stock had previously closed at $5.65.
Analyst Upgrades and Downgrades
MGTX has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. Chardan Capital reaffirmed a "buy" rating and set a $36.00 price target on shares of MeiraGTx in a research note on Monday, February 24th.
View Our Latest Stock Analysis on MGTX
MeiraGTx Price Performance
The company's 50-day moving average is $6.55 and its 200-day moving average is $6.25. The firm has a market capitalization of $501.91 million, a price-to-earnings ratio of -5.24, a PEG ratio of 0.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). The business had revenue of $21.39 million during the quarter, compared to analyst estimates of $1.50 million. MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. On average, research analysts expect that MeiraGTx Holdings plc will post -1.48 earnings per share for the current year.
Insider Activity at MeiraGTx
In related news, CEO Alexandria Forbes sold 47,500 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total value of $253,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,408,983 shares of the company's stock, valued at $7,523,969.22. This represents a 3.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.40% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of MGTX. Janney Montgomery Scott LLC acquired a new stake in shares of MeiraGTx in the 4th quarter worth approximately $459,000. Barclays PLC raised its stake in shares of MeiraGTx by 107.1% in the 3rd quarter. Barclays PLC now owns 147,827 shares of the company's stock worth $618,000 after buying an additional 76,437 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in MeiraGTx by 13.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 112,021 shares of the company's stock valued at $682,000 after buying an additional 12,961 shares in the last quarter. State Street Corp grew its holdings in MeiraGTx by 0.9% during the third quarter. State Street Corp now owns 574,727 shares of the company's stock worth $2,397,000 after acquiring an additional 5,251 shares during the period. Finally, Garden State Investment Advisory Services LLC bought a new stake in MeiraGTx in the third quarter worth about $1,636,000. 67.48% of the stock is owned by institutional investors and hedge funds.
About MeiraGTx
(
Get Free Report)
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.
Further Reading
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