MeiraGTx (NASDAQ:MGTX) Trading 8% Higher - What's Next?

MeiraGTx Holdings plc (NASDAQ:MGTX - Get Free Report) shares traded up 8% during trading on Friday . The company traded as high as $6.53 and last traded at $6.40. 40,619 shares changed hands during trading, a decline of 86% from the average session volume of 281,484 shares. The stock had previously closed at $5.93.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Chardan Capital restated a "buy" rating and set a $36.00 price objective on shares of MeiraGTx in a research note on Monday, November 18th. Royal Bank of Canada increased their price target on MeiraGTx from $9.00 to $11.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th.

MeiraGTx Stock Performance

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 company has a market cap of $489.22 million, a P/E ratio of -5.17, a PEG ratio of 0.34 and a beta of 1.26. The company has a 50 day moving average price of $6.24 and a 200-day moving average price of $5.21.

Insider Activity

In other news, CEO Alexandria Forbes sold 35,839 shares of the company's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $6.47, for a total transaction of $231,878.33. Following the completion of the sale, the chief executive officer now directly owns 1,395,102 shares of the company's stock, valued at $9,026,309.94. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 8.40% of the company's stock.

Institutional Investors Weigh In On MeiraGTx

Several hedge funds have recently modified their holdings of MGTX. BNP Paribas Financial Markets lifted its stake 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 acquiring an additional 5,476 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of MeiraGTx by 97.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,886 shares of the company's stock valued at $62,000 after acquiring an additional 7,330 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of MeiraGTx by 19.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,763 shares of the company's stock valued at $75,000 after acquiring an additional 2,839 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of MeiraGTx during the 3rd quarter valued at about $82,000. Finally, Hsbc Holdings PLC grew its holdings in MeiraGTx by 100.9% in the 2nd quarter. Hsbc Holdings PLC now owns 23,954 shares of the company's stock valued at $102,000 after buying an additional 12,029 shares during the last quarter. 67.48% of the stock is owned by hedge funds and other 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.