MeiraGTx (NASDAQ:MGTX) Shares Gap Up – Still a Buy?

MeiraGTx Holdings plc (NASDAQ:MGTX)’s share price 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 traded.

Analyst Upgrades and Downgrades

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

MeiraGTx Trading Up 3.4 %

The stock has a fifty day simple moving average of $5.54 and a 200 day simple moving average of $4.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a market cap of $529.08 million, a P/E ratio of -5.60 and a beta of 1.24.

Institutional Investors Weigh In On MeiraGTx

Large investors have recently bought and sold shares of the business. Knoll Capital Management LLC purchased a new stake in shares of MeiraGTx during the 3rd quarter valued at about $5,212,000. Royce & Associates LP lifted its position in MeiraGTx by 5.3% during the third quarter. Royce & Associates LP now owns 795,392 shares of the company’s stock valued at $3,317,000 after purchasing an additional 40,000 shares during the period. Erste Asset Management GmbH purchased a new stake in MeiraGTx in the third quarter worth approximately $2,795,000. State Street Corp boosted its holdings in MeiraGTx by 0.9% in the third quarter. State Street Corp now owns 574,727 shares of the company’s stock worth $2,397,000 after purchasing an additional 5,251 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in MeiraGTx by 14.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 462,950 shares of the company’s stock worth $1,949,000 after purchasing an additional 58,854 shares during the period. 67.48% of the stock is currently owned by 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.