Shares of MeiraGTx Holdings plc (NASDAQ:MGTX - Get Free Report) fell 8.7% on Monday . The company traded as low as $7.11 and last traded at $6.62. 99,532 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 329,502 shares. The stock had previously closed at $7.25.
Analyst Ratings Changes
A number of equities research analysts have issued reports on MGTX shares. Royal Bank of Canada upped their target price on MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. Chardan Capital reaffirmed a "buy" rating and set a $36.00 price objective on shares of MeiraGTx in a report on Monday, February 24th.
Check Out Our Latest Analysis on MGTX
MeiraGTx Stock Up 0.2 %
The firm has a 50-day moving average of $6.42 and a two-hundred day moving average of $6.37. The firm has a market cap of $438.13 million, a price-to-earnings ratio of -4.53, a PEG ratio of 0.37 and a beta of 1.30. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.02). The business had revenue of $21.39 million for the quarter, compared to analyst estimates of $1.50 million. MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. As a group, sell-side analysts predict that MeiraGTx Holdings plc will post -1.48 earnings per share for the current fiscal year.
Insider Activity at MeiraGTx
In related news, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $5.34, for a total transaction of $253,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,408,983 shares of the company's stock, valued at $7,523,969.22. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the chief financial officer now directly owns 882,494 shares in the company, valued at $5,294,964. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.40% of the company's stock.
Hedge Funds Weigh In On MeiraGTx
Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position 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 buying an additional 4,328 shares in the last quarter. Summit Investment Advisors Inc. lifted 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 grew its stake in shares of 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 purchasing an additional 2,016 shares during the last quarter. CWM LLC increased its holdings in shares of MeiraGTx by 1,737.7% in the first quarter. CWM LLC now owns 8,674 shares of the company's stock valued at $59,000 after purchasing an additional 8,202 shares in the last quarter. Finally, Polymer Capital Management US LLC bought a new position in MeiraGTx in the 4th quarter worth approximately $88,000. Institutional investors and hedge funds own 67.48% of the company's stock.
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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