683 Capital Management LLC recently announced the acquisition of new stake in MeiraGTx Holdings plc (NASDAQ:MGTX). The institutional investor has increased its shareholding in the Healthcare company by 15.28% to 1.66 million shares with purchase of 0.22 million shares. This fresh investment now brings its stake to 3.71% valued currently at $10.82 million. In addition, Prosight Management LP raised its holdings by 0.12 million to 1.1 million shares. And Rhenman & Partners Asset Manageme has lifted its position by 11.01% or 55030.0 shares – to 0.56 million shares.
With over 0.13 million MeiraGTx Holdings plc (MGTX) shares trading Monday and a closing price of $6.46 on the day, the dollar volume was approximately $0.82 million. The shares have shown a negative half year performance of -19.35% and its price on 01/23/23 gained nearly 1.57%. Currently, there are 44.69M common shares owned by the public and among those 32.87M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for MGTX have a consensus price objective of $31.00. The analysts have set the share’s price value over the next 12 months at a high of $47.00 and a low of $22.00. The average price target is 77.83% above its recent price level and an upside to the estimated low will see the stock gain 70.64% over that period. But an upside of 86.26% will see the stock hit the forecast high price target while median target price for the stock is $28.50.
Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 6,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in MeiraGTx Holdings plc are Worldwide Healthcare Trust Plc, Government Pension Fund – Global, and iShares Russell 2000 ETF. Worldwide Healthcare Trust Plc owns 0.95 million shares of the company’s stock, all valued at over $6.2 million. The company sold -0.53 million shares recently to bring their total holdings to about 2.13% of the shares outstanding. Government Pension Fund – Global bought 0.32 million shares to see its total holdings expand to 0.78 million shares valued at over $5.08 million and representing 1.74% of the shares outstanding. iShares Russell 2000 ETF sold 6832.0 shares to bring its total holdings to over 0.66 million shares at a value of $4.28 million. iShares Russell 2000 ETF now owns shares totaling to 1.47% of the shares outstanding.
Shares of MeiraGTx Holdings plc (NASDAQ: MGTX) opened at $6.40, up $0.04 from a prior closing price of $6.36. However, the script later moved the day high at 6.61, up 1.57%. The company’s stock has a 5-day price change of -7.58% and -16.10% over the past three months. MGTX shares are trading -0.92% year to date (YTD), with the 12-month market performance down to -59.01% lower. It has a 12-month low price of $5.70 and touched a high of $16.32 over the same period. MGTX has an average intraday trading volume of 179.30K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.71%, 2.84%, and -21.95% respectively.
Institutional ownership of MeiraGTx Holdings plc (NASDAQ: MGTX) shares accounts for 65.10% of the company’s 44.69M shares outstanding. Mutual fund holders own 26.70%, while other institutional holders and individual stakeholders account for 36.34% and 17.21% respectively.
It has a market capitalization of $311.24M and a beta (3y monthly) value of 1.36. The earnings-per-share (ttm) stands at -$2.52. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.40% over the week and 5.16% over the month.
Analysts forecast that MeiraGTx Holdings plc (MGTX) will achieve an EPS of -$0.58 for the current quarter, -$0.47 for the next quarter and -$2.31 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.63 while analysts give the company a high EPS estimate of -$0.5. Comparatively, EPS for the current quarter was -$0.59 a year ago. Earnings per share for the fiscal year are expected to decrease by -17.30%, and 12.60% over the next financial year. EPS should grow at an annualized rate of 2.40% over the next five years, compared to -20.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate MeiraGTx Holdings plc (MGTX) as a “Strong Buy” at a consensus score of 1.90. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MGTX, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on October 23, 2020, with the firm’s price target at $27. BofA Securities coverage for the MeiraGTx Holdings plc (MGTX) stock in a research note released on September 15, 2020 offered a Buy rating with a price target of $20. Piper Jaffray was of a view on September 03, 2019 that the stock is Overweight, while Chardan Capital Markets gave the stock Buy rating on February 27, 2019, issuing a price target of $30- $40. BofA/Merrill on their part issued Buy rating on July 03, 2018.