MeiraGTx (NASDAQ:MGTX) Trading 10.1% Higher – Still a Buy?

Shares of MeiraGTx Holdings plc (NASDAQ:MGTX) traded up 10.1% on Friday . The stock traded as high as $6.43 and last traded at $6.43. 214,661 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 205,181 shares. The stock had previously closed at $5.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Chardan Capital reiterated a “buy” rating and set a $36.00 target price on shares of MeiraGTx in a research 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 report on Thursday, November 14th.

MeiraGTx Trading Up 5.3 %

The stock has a fifty day moving average of $6.16 and a two-hundred day moving average of $4.97. The company has a market capitalization of $480.62 million, a PE ratio of -5.08 and a beta of 1.25. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MGTX. Garden State Investment Advisory Services LLC purchased a new position in MeiraGTx in the 3rd quarter worth $1,636,000. Barclays PLC increased its holdings in shares of MeiraGTx by 107.1% in the third quarter. Barclays PLC now owns 147,827 shares of the company’s stock worth $618,000 after buying an additional 76,437 shares during the period. State Street Corp lifted its stake in shares of MeiraGTx by 0.9% in the 3rd quarter. State Street Corp now owns 574,727 shares of the company’s stock valued at $2,397,000 after acquiring an additional 5,251 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of MeiraGTx in the 3rd quarter valued at about $2,795,000. Finally, Knoll Capital Management LLC purchased a new stake in MeiraGTx during the 3rd quarter valued at about $5,212,000. 67.48% of the stock is owned by hedge funds and other 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.