MeiraGTx’s (MGTX) “Buy” Rating Reaffirmed at Chardan Capital

MeiraGTx (NASDAQ:MGTX)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a report issued on Monday,Benzinga reports. They presently have a $36.00 target price on the stock. Chardan Capital’s price objective would suggest a potential upside of 393.15% from the company’s current price.

Separately, Royal Bank of Canada upped their price target on MeiraGTx from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th.

MeiraGTx Trading Up 6.9 %

Shares of MGTX stock opened at $7.30 on Monday. The company has a market capitalization of $570.50 million, a P/E ratio of -6.03, a P/E/G ratio of 0.37 and a beta of 1.25. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. MeiraGTx has a 12-month low of $3.85 and a 12-month high of $7.80. The firm has a 50-day moving average price of $6.32 and a 200 day moving average price of $5.55.

Insider Activity

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

Institutional Investors Weigh In On MeiraGTx

A number of institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its stake in shares of MeiraGTx by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,571 shares of the company’s stock valued at $101,000 after acquiring an additional 1,685 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in MeiraGTx by 68.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company’s stock valued at $30,000 after purchasing an additional 2,016 shares in the last quarter. Corebridge Financial Inc. raised its holdings in shares of MeiraGTx by 11.6% during the fourth quarter. Corebridge Financial Inc. now owns 23,147 shares of the company’s stock valued at $141,000 after purchasing an additional 2,405 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of MeiraGTx by 106.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company’s stock worth $30,000 after purchasing an additional 2,515 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of MeiraGTx by 13.3% in the 4th quarter. SG Americas Securities LLC now owns 22,240 shares of the company’s stock valued at $135,000 after buying an additional 2,617 shares during the period. 67.48% of the stock is owned by institutional investors.

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.