MeiraGTx (NASDAQ:MGTX) PT Lowered to $22.00

MeiraGTx (NASDAQ:MGTX – Get Rating) had its price target reduced by Royal Bank of Canada from $27.00 to $22.00 in a report published on Wednesday, The Fly reports. They currently have an outperform rating on the stock.

MeiraGTx Stock Performance

Shares of MeiraGTx stock opened at $5.41 on Wednesday. The business has a fifty day simple moving average of $7.33 and a two-hundred day simple moving average of $7.29. The firm has a market capitalization of $263.28 million, a P/E ratio of -1.89 and a beta of 1.44. The company has a current ratio of 1.88, a quick ratio of 2.14 and a debt-to-equity ratio of 0.75. MeiraGTx has a 12 month low of $5.34 and a 12 month high of $15.16.

Institutional Investors Weigh In On MeiraGTx

Several hedge funds have recently bought and sold shares of MGTX. Acadian Asset Management LLC bought a new stake in MeiraGTx during the first quarter worth about $30,000. Ensign Peak Advisors Inc bought a new stake in MeiraGTx during the third quarter worth about $41,000. UBS Group AG boosted its stake in MeiraGTx by 26.0% during the fourth quarter. UBS Group AG now owns 6,930 shares of the company’s stock worth $45,000 after acquiring an additional 1,430 shares in the last quarter. Royal Bank of Canada boosted its stake in MeiraGTx by 401.5% during the third quarter. Royal Bank of Canada now owns 5,868 shares of the company’s stock worth $49,000 after acquiring an additional 4,698 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in MeiraGTx by 78.1% during the second quarter. BNP Paribas Arbitrage SA now owns 7,568 shares of the company’s stock worth $57,000 after acquiring an additional 3,319 shares in the last quarter. Institutional investors own 70.10% of the company’s stock.

MeiraGTx Company Profile

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MeiraGTx Holdings Plc engages in the development of novel gene therapy treatments. It focuses on inherited retinal diseases, neurodegenerative diseases, and severe forms of xerostomia. It operates through the following geographical segments: United States, Ireland, Netherlands, and United Kingdom. Its pipeline includes AAV CNGB3, AAV-CNGA3, AAV-RPE65, AAV-RPGR, AAV-AQP1 and AAV-UPF1.