MeiraGTx (NASDAQ:MGTX) Stock Price Up 8% – Time to Buy?

Shares of MeiraGTx Holdings plc (NASDAQ:MGTX) traded up 8% during mid-day trading on Friday . The company traded as high as $6.53 and last traded at $6.40. 40,619 shares traded hands during trading, a decline of 86% from the average session volume of 281,484 shares. The stock had previously closed at $5.93.

Analyst Ratings Changes

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

MeiraGTx Stock Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34. The stock has a 50-day moving average price of $6.25 and a 200-day moving average price of $5.18. The company has a market capitalization of $482.89 million, a price-to-earnings ratio of -5.09, a PEG ratio of 0.34 and a beta of 1.26.

Insider Activity

In other MeiraGTx news, CEO Alexandria Forbes sold 35,839 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $6.47, for a total transaction of $231,878.33. Following the completion of the sale, the chief executive officer now owns 1,395,102 shares of the company’s stock, valued at approximately $9,026,309.94. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On MeiraGTx

A number of large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in MeiraGTx by 142.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company’s stock valued at $39,000 after acquiring an additional 5,476 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of MeiraGTx by 97.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,886 shares of the company’s stock valued at $62,000 after purchasing an additional 7,330 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of MeiraGTx by 19.0% in the second quarter. The Manufacturers Life Insurance Company now owns 17,763 shares of the company’s stock worth $75,000 after acquiring an additional 2,839 shares during the period. SG Americas Securities LLC bought a new stake in shares of MeiraGTx during the third quarter valued at about $82,000. Finally, Hsbc Holdings PLC lifted its stake in MeiraGTx by 100.9% in the 2nd quarter. Hsbc Holdings PLC now owns 23,954 shares of the company’s stock worth $102,000 after purchasing an additional 12,029 shares in the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.

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.