MeiraGTx (NASDAQ:MGTX) Stock Price Up 7.8% - Time to Buy?

MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report)'s share price was up 7.8% during trading on Wednesday . The stock traded as high as $6.95 and last traded at $6.99. Approximately 123,721 shares changed hands during trading, a decline of 68% from the average daily volume of 386,280 shares. The stock had previously closed at $6.48.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised MeiraGTx from a "sell" rating to a "hold" rating in a research report on Saturday. Chardan Capital dropped their price objective on MeiraGTx from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada raised their price objective on MeiraGTx from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Monday, March 17th.

MeiraGTx Price Performance

The firm has a market cap of $603.10 million, a PE ratio of -3.23 and a beta of 1.24. The company has a quick ratio of 1.51, a current ratio of 1.53 and a debt-to-equity ratio of 2.34. The stock has a 50 day moving average price of $6.04 and a two-hundred day moving average price of $6.28.

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

Insider Activity at MeiraGTx

In other news, CEO Alexandria Forbes sold 47,500 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was 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 directly owned 1,408,983 shares in the company, valued at $7,523,969.22. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Giroux sold 24,000 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $6.00, for a total value of $144,000.00. Following the completion of the sale, the chief financial officer owned 882,494 shares of the company's stock, valued at $5,294,964. This trade 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 owned by insiders.

Institutional Trading of MeiraGTx

Large investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. increased its position in shares of MeiraGTx by 106.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock worth $30,000 after purchasing an additional 2,515 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in MeiraGTx by 68.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock worth $30,000 after acquiring an additional 2,016 shares in the last quarter. GAMMA Investing LLC lifted its stake in MeiraGTx by 3,606.7% during the 1st quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock worth $30,000 after acquiring an additional 4,328 shares in the last quarter. CWM LLC lifted its stake in MeiraGTx by 1,737.7% during the 1st quarter. CWM LLC now owns 8,674 shares of the company's stock worth $59,000 after acquiring an additional 8,202 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in MeiraGTx in the 1st quarter valued at about $83,000. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

About MeiraGTx

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.