MeiraGTx (NASDAQ:MGTX) Reaches New 52-Week High – What’s Next?

MeiraGTx Holdings plc (NASDAQ:MGTX) shares hit a new 52-week high during trading 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

Several research analysts have recently commented on the company. Chardan Capital reissued a “buy” rating and issued a $36.00 target price on shares of MeiraGTx in a report on Monday, November 18th. Royal Bank of Canada increased their target price on MeiraGTx from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th.

MeiraGTx Price Performance

The firm has a market cap of $570.50 million, a price-to-earnings ratio of -6.03, a P/E/G ratio of 0.37 and a beta of 1.25. The business’s 50-day simple moving average is $6.32 and its two-hundred day simple moving average is $5.54. 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 Buying and Selling

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

Institutional Investors Weigh In On MeiraGTx

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of MeiraGTx during the third quarter valued at approximately $82,000. China Universal Asset Management Co. Ltd. increased its position 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 purchasing an additional 7,330 shares during the last quarter. Privium Fund Management B.V. grew its position 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 acquiring an additional 10,000 shares during the period. Royce & Associates LP lifted its position in shares of MeiraGTx by 5.3% during 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 in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of MeiraGTx by 142.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company’s stock valued at $39,000 after purchasing an additional 5,476 shares during the period. Hedge funds and other institutional investors 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.