MeiraGTx (NASDAQ:MGTX) Trading Up 1.7% – Should You Buy?

MeiraGTx Holdings PLC (NASDAQ:MGTX) was up 1.7% on Tuesday . The stock traded as high as $7.75 and last traded at $7.58. Approximately 238,941 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 362,651 shares. The stock had previously closed at $7.45.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MGTX. Royal Bank Of Canada increased their price objective on MeiraGTx from $12.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Zacks Research lowered MeiraGTx from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Wall Street Zen downgraded shares of MeiraGTx from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Chardan Capital reiterated a “buy” rating and issued a $35.00 target price on shares of MeiraGTx in a research note on Tuesday, November 11th. Finally, Raymond James Financial started coverage on shares of MeiraGTx in a report on Tuesday, October 21st. They issued a “strong-buy” rating and a $29.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.00.

MeiraGTx Trading Up 1.7%

The firm has a 50 day moving average of $7.82 and a 200 day moving average of $7.98. The firm has a market cap of $610.11 million, a PE ratio of -3.59 and a beta of 1.37. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 26.29.

Hedge Funds Weigh In On MeiraGTx

Several large investors have recently modified their holdings of MGTX. Abel Hall LLC purchased a new position in MeiraGTx in the 4th quarter valued at approximately $98,000. Trexquant Investment LP purchased a new stake in shares of MeiraGTx in the 4th quarter valued at about $537,000. Russell Investments Group Ltd. lifted its position in MeiraGTx by 15.5% during the fourth quarter. Russell Investments Group Ltd. now owns 95,719 shares of the company’s stock valued at $761,000 after purchasing an additional 12,875 shares during the last quarter. ExodusPoint Capital Management LP lifted its holdings in shares of MeiraGTx by 102.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 86,926 shares of the company’s stock worth $691,000 after acquiring an additional 43,953 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in shares of MeiraGTx by 2.2% in the 4th quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company’s stock worth $562,000 after purchasing an additional 1,495 shares in the last quarter. Hedge funds and other institutional investors own 67.48% of the company’s stock.

About MeiraGTx

MeiraGTx Holdings plc is a clinical-stage biotechnology company dedicated to developing gene therapies for the treatment of rare diseases. Founded in 2014 as an outgrowth of research at University College London, the company focuses on leveraging adeno-associated virus (AAV) vectors to deliver functional genes to target tissues. MeiraGTx’s pipeline spans ocular, central nervous system and systemic indications, addressing conditions such as inherited retinal dystrophies and neurodegenerative disorders that currently lack effective therapies.

The company’s lead programs include AAV-based candidates designed to restore or replace defective genes underlying rare retinal diseases and to modulate cellular pathways in neurological disorders.