MeiraGTx (NASDAQ:MGTX) Reaches New 52-Week High – What’s Next?

Shares of MeiraGTx Holdings plc (NASDAQ:MGTX) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $7.37 and last traded at $7.11, with a volume of 66948 shares trading hands. The stock had previously closed at $6.83.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MGTX shares. Chardan Capital reiterated a “buy” rating and issued a $36.00 target price on shares of MeiraGTx in a research note on Monday, November 18th. Royal Bank of Canada increased their target price on MeiraGTx from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th.

MeiraGTx Trading Up 6.9 %

The company has a market capitalization of $570.50 million, a price-to-earnings ratio of -6.03, a PEG ratio of 0.37 and a beta of 1.25. The firm has a 50-day moving average price of $6.32 and a 200-day moving average price of $5.54. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86.

Insider Buying and Selling

In related news, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total transaction of $150,960.00. Following the completion of the sale, the chief financial officer now owns 849,947 shares of the company’s stock, valued at approximately $5,346,166.63. This trade represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alexandria Forbes sold 35,839 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $6.47, for a total value of $231,878.33. Following the completion of the sale, the chief executive officer now directly owns 1,395,102 shares of the company’s stock, valued at $9,026,309.94. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On MeiraGTx

Several large investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. boosted 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 acquiring an additional 2,515 shares in the last quarter. Tower Research Capital LLC TRC boosted 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 acquiring an additional 2,016 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of MeiraGTx by 142.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company’s stock worth $39,000 after acquiring an additional 5,476 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of MeiraGTx by 97.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,886 shares of the company’s stock worth $62,000 after acquiring an additional 7,330 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of MeiraGTx in the 3rd quarter worth approximately $82,000. 67.48% of the stock is currently 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.