MeiraGTx (NASDAQ:MGTX) Trading Up 10.1% – What’s Next?

Shares of MeiraGTx Holdings plc (NASDAQ:MGTX) traded up 10.1% on Friday . The company traded as high as $6.43 and last traded at $6.43. 214,661 shares traded hands during trading, an increase of 5% from the average session volume of 205,181 shares. The stock had previously closed at $5.84.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Chardan Capital restated a “buy” rating and issued a $36.00 target price on shares of MeiraGTx in a report 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 research note on Thursday, November 14th.

MeiraGTx Price Performance

The firm has a fifty day moving average of $6.12 and a two-hundred day moving average of $4.96. The stock has a market capitalization of $496.27 million, a P/E ratio of -5.25 and a beta of 1.25. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Panagora Asset Management Inc. acquired a new stake in shares of MeiraGTx in the 2nd quarter worth $97,000. Privium Fund Management B.V. lifted its holdings in MeiraGTx by 70.0% in the second quarter. Privium Fund Management B.V. now owns 203,960 shares of the company’s stock valued at $804,000 after acquiring an additional 83,975 shares during the period. Rhumbline Advisers boosted its holdings in MeiraGTx by 10.8% during the second quarter. Rhumbline Advisers now owns 52,996 shares of the company’s stock worth $223,000 after buying an additional 5,178 shares in the last quarter. Letko Brosseau & Associates Inc. grew its position in shares of MeiraGTx by 38.5% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 45,300 shares of the company’s stock valued at $191,000 after acquiring an additional 12,600 shares during the period. Finally, American Century Companies Inc. grew its holdings in MeiraGTx by 42.4% in the second quarter. American Century Companies Inc. now owns 40,008 shares of the company’s stock valued at $168,000 after purchasing an additional 11,907 shares during the period. 67.48% of the stock is currently owned by hedge funds and other 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.