MeiraGTx (NASDAQ:MGTX) Rating Increased to Hold at Wall Street Zen

MeiraGTx (NASDAQ:MGTX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Other equities analysts also recently issued reports about the company. Chardan Capital lowered their target price on MeiraGTx from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Royal Bank Of Canada lifted their target price on MeiraGTx from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Monday, March 17th.

MeiraGTx Stock Performance

MGTX stock opened at $7.51 on Friday. The company has a market cap of $603.10 million, a P/E ratio of -3.23 and a beta of 1.24. MeiraGTx has a 1 year low of $3.85 and a 1 year high of $8.75. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.53 and a quick ratio of 1.51. The stock's fifty day moving average price is $6.04 and its 200-day moving average price is $6.28.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.13). The firm had revenue of $1.93 million during the quarter, compared to analysts' expectations of $4.44 million. MeiraGTx had a negative return on equity of 241.05% and a negative net margin of 484.90%. On average, equities analysts forecast that MeiraGTx will post -1.48 earnings per share for the current year.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, CEO Alexandria Forbes sold 47,500 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total transaction of $253,650.00. Following the sale, the chief executive officer directly owned 1,408,983 shares of the company's stock, valued at $7,523,969.22. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Giroux sold 24,000 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $6.00, for a total value of $144,000.00. Following the sale, the chief financial officer directly owned 882,494 shares in the company, valued at approximately $5,294,964. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MeiraGTx

A number of institutional investors and hedge funds have recently bought and sold shares of MGTX. Summit Investment Advisors Inc. raised its holdings in MeiraGTx by 106.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock valued at $30,000 after acquiring an additional 2,515 shares during the period. Tower Research Capital LLC TRC raised its holdings in MeiraGTx by 68.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock valued at $30,000 after acquiring an additional 2,016 shares during the period. GAMMA Investing LLC raised its holdings in MeiraGTx by 3,606.7% during the first quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock valued at $30,000 after acquiring an additional 4,328 shares during the period. CWM LLC raised its holdings in MeiraGTx by 1,737.7% during the first quarter. CWM LLC now owns 8,674 shares of the company's stock valued at $59,000 after acquiring an additional 8,202 shares during the period. Finally, Ieq Capital LLC bought a new stake in MeiraGTx during the first quarter valued at about $83,000. 67.48% of the stock is 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.

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