MeiraGTx (NASDAQ:MGTX) Shares Up 8.1% – Should You Buy?

MeiraGTx Holdings plc (NASDAQ:MGTX)’s share price rose 8.1% during trading on Monday . The stock traded as high as $6.47 and last traded at $6.41. Approximately 17,117 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 201,876 shares. The stock had previously closed at $5.93.

Wall Street Analyst Weigh In

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

MeiraGTx Stock Up 0.9 %

The stock has a 50-day simple moving average of $5.36 and a 200 day simple moving average of $4.83. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34.

Institutional Investors Weigh In On MeiraGTx

A number of institutional investors have recently modified their holdings of the business. Knoll Capital Management LLC acquired a new stake in shares of MeiraGTx in the third quarter valued at about $5,212,000. Royce & Associates LP lifted its stake in MeiraGTx by 5.3% in the 3rd quarter. Royce & Associates LP now owns 795,392 shares of the company’s stock valued at $3,317,000 after buying an additional 40,000 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in MeiraGTx in the 3rd quarter worth about $2,795,000. State Street Corp increased its stake in MeiraGTx by 0.9% during the 3rd quarter. State Street Corp now owns 574,727 shares of the company’s stock worth $2,397,000 after buying an additional 5,251 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of MeiraGTx by 14.6% during the second quarter. Dimensional Fund Advisors LP now owns 462,950 shares of the company’s stock valued at $1,949,000 after acquiring an additional 58,854 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.

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.