MeiraGTx (NASDAQ:MGTX) Shares Gap Up – What’s Next?

MeiraGTx Holdings plc (NASDAQ:MGTX) shares gapped up prior to trading on Friday . The stock had previously closed at $6.39, but opened at $6.60. MeiraGTx shares last traded at $6.55, with a volume of 7,006 shares trading hands.

Analyst Upgrades and Downgrades

MGTX has been the topic of a number of recent analyst reports. Chardan Capital reissued a “buy” rating and set a $36.00 target price on shares of MeiraGTx in a report on Monday, November 18th. Royal Bank of Canada lifted their price objective on shares of MeiraGTx from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th.

MeiraGTx Stock Performance

The company has a market cap of $522.82 million, a P/E ratio of -5.50 and a beta of 1.24. The stock has a 50 day moving average price of $5.49 and a two-hundred day moving average price of $4.87. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in shares of MeiraGTx by 142.5% in the third 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. boosted its holdings in MeiraGTx by 97.0% in the 3rd 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 grew its position in shares of MeiraGTx by 19.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,763 shares of the company’s stock worth $75,000 after purchasing an additional 2,839 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of MeiraGTx during the third quarter worth approximately $82,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of MeiraGTx in the second quarter valued at approximately $97,000. Institutional investors own 67.48% of the company’s stock.

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.