MeiraGTx’s (MGTX) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of MeiraGTx (NASDAQ:MGTX) in a report released on Friday, Benzinga reports. The firm currently has a $11.00 price objective on the stock.

MeiraGTx Stock Down 2.4 %

Shares of MeiraGTx stock traded down $0.15 during trading hours on Friday, reaching $6.20. 238,529 shares of the company’s stock were exchanged, compared to its average volume of 158,372. MeiraGTx has a fifty-two week low of $3.49 and a fifty-two week high of $8.35. The stock has a market cap of $394.32 million, a P/E ratio of -4.22 and a beta of 1.30. The company has a 50 day moving average of $6.27 and a two-hundred day moving average of $5.60. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.94.

Institutional Trading of MeiraGTx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in MeiraGTx by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 312,421 shares of the company’s stock valued at $2,193,000 after buying an additional 11,832 shares during the period. Wellington Management Group LLP purchased a new position in MeiraGTx in the fourth quarter valued at about $1,028,000. Sierra Summit Advisors LLC purchased a new stake in shares of MeiraGTx during the 4th quarter valued at approximately $252,000. Hobbs Group Advisors LLC purchased a new stake in shares of MeiraGTx during the 4th quarter valued at approximately $225,000. Finally, Barclays PLC lifted its stake in MeiraGTx by 46.5% in the 4th quarter. Barclays PLC now owns 98,652 shares of the company’s stock worth $693,000 after purchasing an additional 31,317 shares in the last quarter. Institutional investors own 64.84% of the company’s stock.

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.