MeiraGTx Holdings plc (NASDAQ:MGTX - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $6.00, but opened at $6.30. MeiraGTx shares last traded at $6.28, with a volume of 229,302 shares traded.
Wall Street Analyst Weigh In
Several analysts recently issued reports on MGTX shares. Chardan Capital reduced their price target on shares of MeiraGTx from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Wall Street Zen lowered shares of MeiraGTx from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Royal Bank of Canada lifted their price target on shares of MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a report on Monday, March 17th.
Check Out Our Latest Stock Analysis on MeiraGTx
MeiraGTx Price Performance
The business's 50 day moving average is $5.72 and its two-hundred day moving average is $6.25. The firm has a market cap of $529.61 million, a P/E ratio of -5.45, a P/E/G ratio of 0.37 and a beta of 1.16. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.13). MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. The company had revenue of $1.93 million for the quarter, compared to analyst estimates of $4.44 million. As a group, analysts anticipate that MeiraGTx Holdings plc will post -1.48 earnings per share for the current year.
Insider Activity
In other MeiraGTx news, CEO Alexandria Forbes sold 47,500 shares of the company's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $5.34, for a total value of $253,650.00. Following the completion of the sale, the chief executive officer now directly owns 1,408,983 shares of the company's stock, valued at approximately $7,523,969.22. This represents a 3.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard Giroux sold 24,000 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $6.00, for a total transaction of $144,000.00. Following the completion of the sale, the chief financial officer now directly owns 882,494 shares of the company's stock, valued at $5,294,964. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.50% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of MeiraGTx by 3,606.7% during the 1st quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock valued at $30,000 after buying an additional 4,328 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of MeiraGTx by 106.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock worth $30,000 after buying an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of MeiraGTx by 68.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock worth $30,000 after buying an additional 2,016 shares during the last quarter. CWM LLC increased its holdings in shares of MeiraGTx by 1,737.7% in the 1st quarter. CWM LLC now owns 8,674 shares of the company's stock worth $59,000 after buying an additional 8,202 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in shares of MeiraGTx during the 1st quarter valued at $83,000. 67.48% of the stock is currently owned by hedge funds and other institutional investors.
MeiraGTx Company Profile
(
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.
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