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

Chardan Capital reissued their buy rating on shares of MeiraGTx (NASDAQ:MGTX) in a research report report published on Monday morning,Benzinga reports. The firm currently has a $36.00 target price on the stock.

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

MeiraGTx Stock Performance

NASDAQ:MGTX opened at $7.31 on Monday. The stock’s 50-day simple moving average is $6.38 and its 200 day simple moving average is $5.60. The firm has a market capitalization of $571.30 million, a PE ratio of -6.04, a price-to-earnings-growth ratio of 0.37 and a beta of 1.25. MeiraGTx has a twelve month low of $3.85 and a twelve month high of $7.80. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86.

Insider Buying and Selling

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 $9,026,309.94. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total value of $150,960.00. Following the sale, the chief financial officer now owns 849,947 shares in the company, valued at $5,346,166.63. This trade 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 insiders.

Institutional Trading of MeiraGTx

Large investors have recently bought and sold shares of the company. Woodline Partners LP purchased a new position in MeiraGTx during the 4th quarter valued at about $9,349,000. Sanofi bought a new stake in MeiraGTx during the 4th quarter valued at $74,284,000. ProShare Advisors LLC increased its holdings in MeiraGTx by 41.2% during the 4th quarter. ProShare Advisors LLC now owns 16,814 shares of the company’s stock valued at $102,000 after purchasing an additional 4,910 shares during the period. Nuveen Asset Management LLC lifted its stake in MeiraGTx by 43.2% in the fourth quarter. Nuveen Asset Management LLC now owns 191,311 shares of the company’s stock worth $1,165,000 after acquiring an additional 57,737 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in MeiraGTx by 23.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,275 shares of the company’s stock worth $160,000 after buying an additional 5,010 shares in the last quarter. 67.48% of the stock is 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.