MeiraGTx (NASDAQ:MGTX) Downgraded to “Hold” at ValuEngine

ValuEngine cut shares of MeiraGTx (NASDAQ:MGTX) from a buy rating to a hold rating in a research report released on Thursday morning, ValuEngine reports.

MGTX has been the subject of a number of other reports. Chardan Capital restated a buy rating on shares of MeiraGTx in a research report on Tuesday, May 14th. Zacks Investment Research downgraded shares of MeiraGTx from a buy rating to a sell rating in a research report on Wednesday, May 29th. Finally, Barclays boosted their target price on shares of MeiraGTx from $20.00 to $30.00 and gave the company a positive rating in a research report on Wednesday, May 15th.

Shares of MGTX traded down $0.40 during trading hours on Thursday, reaching $26.21. 105,512 shares of the company traded hands, compared to its average volume of 123,395. The company has a market capitalization of $874.10 million, a PE ratio of -5.97 and a beta of 1.99. The company has a quick ratio of 6.96, a current ratio of 6.96 and a debt-to-equity ratio of 0.02. MeiraGTx has a 12-month low of $8.10 and a 12-month high of $30.23. The stock has a fifty day simple moving average of $26.16.

MeiraGTx (NASDAQ:MGTX) last posted its earnings results on Tuesday, May 14th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.02. The business had revenue of $0.79 million for the quarter.

A number of hedge funds and other institutional investors have recently bought and sold shares of MGTX. BNP Paribas Arbitrage SA lifted its position in MeiraGTx by 50,220.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,516 shares of the company’s stock valued at $43,000 after purchasing an additional 2,511 shares during the period. Focused Wealth Management Inc acquired a new position in shares of MeiraGTx in the second quarter worth about $57,000. Geode Capital Management LLC raised its position in shares of MeiraGTx by 54.1% in the fourth quarter. Geode Capital Management LLC now owns 16,625 shares of the company’s stock worth $160,000 after acquiring an additional 5,834 shares during the period. Virtu Financial LLC acquired a new position in shares of MeiraGTx in the first quarter worth about $174,000. Finally, Fort Sheridan Advisors LLC acquired a new position in shares of MeiraGTx in the first quarter worth about $182,000. Institutional investors own 35.28% of the company’s stock.

About MeiraGTx

MeiraGTx Holdings plc, a clinical-stage gene therapy company, focusing on developing treatments for patients living with serious diseases. The company develops various therapies for ocular diseases, including rare inherited blindness, as well as Xerostomia following radiation treatment for head and neck cancers; neurodegenerative diseases, such as amyothrophic lateral sclerosis; and Parkinson's diseases.

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