Chardan Capital Lowers MeiraGTx (NASDAQ:MGTX) Price Target to $41.00

MeiraGTx (NASDAQ:MGTX – Get Rating) had its price target cut by investment analysts at Chardan Capital from $47.00 to $41.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock.

Separately, Royal Bank of Canada dropped their price objective on shares of MeiraGTx from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday.

MeiraGTx Stock Performance

NASDAQ:MGTX opened at $5.41 on Thursday. The firm’s 50-day moving average is $7.33 and its 200-day moving average is $7.30. MeiraGTx has a 52-week low of $5.34 and a 52-week high of $15.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market cap of $262.28 million, a price-to-earnings ratio of -1.89 and a beta of 1.44.

Institutional Trading of MeiraGTx

Several institutional investors have recently made changes to their positions in the business. Silverarc Capital Management LLC boosted its position in shares of MeiraGTx by 2.4% during the 4th quarter. Silverarc Capital Management LLC now owns 56,672 shares of the company’s stock valued at $370,000 after acquiring an additional 1,330 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of MeiraGTx by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 66,507 shares of the company’s stock valued at $922,000 after acquiring an additional 1,400 shares in the last quarter. UBS Group AG lifted its holdings in MeiraGTx by 26.0% during the 4th quarter. UBS Group AG now owns 6,930 shares of the company’s stock valued at $45,000 after purchasing an additional 1,430 shares during the last quarter. Acadian Asset Management LLC bought a new position in MeiraGTx during the 1st quarter valued at about $30,000. Finally, Citigroup Inc. lifted its holdings in MeiraGTx by 25.1% during the 4th quarter. Citigroup Inc. now owns 11,261 shares of the company’s stock valued at $73,000 after purchasing an additional 2,259 shares during the last quarter. 70.10% of the stock is currently owned by institutional investors and hedge funds.

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.