MeiraGTx (NASDAQ:MGTX) Sees Strong Trading Volume - Should You Buy?

Key Points

• Trading pickup: Volume jumped 31% to 512,400 shares and the stock traded around $8.44 (from a prior close of $7.62), with the 50‑day/200‑day moving averages at $7.58 and $7.94 respectively.
• Mixed analyst view but bullish consensus: MarketBeat shows an average rating of "Moderate Buy" and an average target of $26.00, though ratings are mixed (1 Strong Buy, 4 Buy, 1 Hold, 1 Sell) and Weiss has reiterated a sell while Zacks recently upgraded to hold.
• Insider and financial signals: CEO Alexandria Forbes sold 62,000 shares (a 4.1% reduction), insiders own 7.5% and institutions 67.48%; the clinical‑stage biotech has a negative P/E, low liquidity (quick/current ratio 0.22) and a market cap of about $622.6M.

MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) saw an uptick in trading volume on Thursday . 512,400 shares traded hands during mid-day trading, an increase of 31% from the previous session's volume of 392,581 shares.The stock last traded at $8.4350 and had previously closed at $7.62.

Analyst Ratings Changes

MGTX has been the subject of a number of research reports. Weiss Ratings restated a "sell (d-)" rating on shares of MeiraGTx in a research report on Thursday, January 22nd. Zacks Research raised MeiraGTx from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.00.

MeiraGTx Trading Up 1.5%

The business's fifty day moving average price is $7.58 and its 200 day moving average price is $7.94. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 26.29. The firm has a market capitalization of $622.59 million, a PE ratio of -3.66 and a beta of 1.37.

Insiders Place Their Bets

In other MeiraGTx news, CEO Alexandria Forbes sold 62,000 shares of the business's stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $7.41, for a total value of $459,420.00. Following the completion of the transaction, the chief executive officer directly owned 1,449,695 shares in the company, valued at approximately $10,742,239.95. The trade was a 4.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.50% of the company's stock.

Institutional Investors Weigh In On MeiraGTx

A number of hedge funds and other institutional investors have recently made changes to their positions in MGTX. Kennedy Capital Management LLC lifted its position in MeiraGTx by 3.8% during the second quarter. Kennedy Capital Management LLC now owns 35,189 shares of the company's stock worth $229,000 after buying an additional 1,287 shares during the period. BNP Paribas Financial Markets boosted its position in shares of MeiraGTx by 43.8% in the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company's stock worth $31,000 after acquiring an additional 1,466 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in MeiraGTx by 4.3% in the third quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company's stock valued at $682,000 after purchasing an additional 3,452 shares during the period. XTX Topco Ltd increased its position in MeiraGTx by 11.0% during the fourth quarter. XTX Topco Ltd now owns 38,030 shares of the company's stock worth $302,000 after purchasing an additional 3,766 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in MeiraGTx during the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 67.48% of the company's stock.

MeiraGTx Company Profile

MeiraGTx Holdings plc is a clinical-stage biotechnology company dedicated to developing gene therapies for the treatment of rare diseases. Founded in 2014 as an outgrowth of research at University College London, the company focuses on leveraging adeno-associated virus (AAV) vectors to deliver functional genes to target tissues. MeiraGTx's pipeline spans ocular, central nervous system and systemic indications, addressing conditions such as inherited retinal dystrophies and neurodegenerative disorders that currently lack effective therapies.

The company's lead programs include AAV-based candidates designed to restore or replace defective genes underlying rare retinal diseases and to modulate cellular pathways in neurological disorders.

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