On Jan. 04, Naylor Stuart divested U.S. $184,440 in shares of MeiraGTx Holdings plc. The Chief Development Officer sold 12,000 shares at a price per share of $15.37. The transaction decreased this specific insider’s holdings to 438,017 shares worth around $7.06 million at present.
Another 4,851 shares were sold by Naylor Stuart, for more than $72,765 in total proceeds. The Chief Development Officer dumped the shares at a price of $15.00 and the insider now owns almost 450,017 shares.
RBC Capital Mkts launched its MeiraGTx Holdings plc [MGTX] rating to the equivalent of an Outperform and assigned the price target of $27, in a research note dated October 23, 2020. That figure represents around a 40.3% premium from where the company’s shares closed on Wednesday. Some new analysts also started their coverage, with RBC Capital Mkts’s analysts assigning the shares to “an Outperform” rating in a research note to investors issued in late October. In addition, there was a new coverage from Piper Jaffray on September 03, 2019. The research firm rated MGTX “an Overweight”.
Is MeiraGTx Holdings plc [NASDAQ:MGTX] a Good Buy Right Now?
It should be noted that MGTX technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 8% Sell in the past month. Data from MeiraGTx Holdings plc’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.33 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.25 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.18 million shares.
MGTX Price Performance
On Wall Street, MeiraGTx Holdings plc [NASDAQ:MGTX] finished Wednesday’s session up 4.27% at $16.12. The stock went up to $16.68 at the same session while its lowest single day price was $15.3201. In the last five days, it saw a rise of about 3.00%, MeiraGTx Holdings plc shares gained by almost 6.47% since the beginning of the year. However, the share price has dropped to as low as -25.95% below its one year high. On 01/06/21, the company shares recorded $16.68, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $15.00. The company’s shares have declined by -20.47% in the past year. The 50-day SMA achieved is $14.42 while the 200-day SMA is $13.73. Volume gained to 0.19 million from 0.1 million in the previous session.
MeiraGTx Holdings plc [MGTX] Valuation Measures
Notably, MeiraGTx Holdings plc [MGTX] stock can be helpful for investors to consider historical price-sales ratio, more specifically, a 39.05 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 20.33.
MGTX Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 15.40 level, and in case of violation of this particular level, it will cause more drop to 14.68 level. On the upper level, 17.40 is still the key resistance. The stock may increase to the subsequent resistance at 16.76. The Relative Strength Index (RSI) pinned on the 14-day chart is 58.87, implying a neutral technical stance while the MACD stands at -0.36, meaning price will decrease in the next trading period. Percent R indicator moved to 48.64%, implying low price movement. Stochastic %K at 48.22% suggest holding the stock.
What is the short interest in MeiraGTx Holdings plc?
Short interest in the MeiraGTx Holdings plc stock has surged, increasing by 2450.0 shares to total 0.4 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.41 million, data from Yahoo Finance shows. The decrease of -0.61% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.28% of the overall float for the stock.
MeiraGTx Holdings plc’s Biggest Shareholders: Who Owns MeiraGTx Holdings plc [MGTX]?
Filings by Perceptive Advisors LLC showed that the firm now holds a total of 6,933,277 shares or roughly 15.97% of the outstanding MGTX shares. This means their shares have increased by 500,000 from the 6,933,277 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, OrbiMed Advisors LLC updated stake is worth $52,439,138. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -3.04% stake valued at $17,774,807 while T. Rowe Price Associates, Inc.. During the last quarter, BlackRock Fund Advisors liquidated -39,466 of its shares in MeiraGTx Holdings plc while T. Rowe Price Associates, Inc. bought 997,308 shares. The 683 Capital Management LLC’s holdings currently number 684,447 shares at $11033285.64. According to the firm’s last 13F report, Alyeska Investment Group LP shares in the company at filing stood at 614,632 shares, roughly $8,678,604.
MGTX Earnings Forecast For The Current Quarter
MeiraGTx Holdings plc [MGTX] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $5.7M and an earnings per share of -$0.35 for Dec 2020. Looking further ahead, the company is expected to report revenue of $650k at an EPS of -$0.46 for Mar 2021. The estimates represent downside of -34.30% and -37.20% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
MGTX Earnings Estimates For The Current Year
For the financial year, MeiraGTx Holdings plc [NASDAQ:MGTX] is expected to bring in revenue of $17.04M. The returns are nearly $3.75 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.64, higher than that of FY19 by $0.01. Estimates put this year’s earnings growth at 0.60%, -37.20% for the next, and at an annual 2.40% over the next 5-year period. As for sales, forecasts are for an increase of 28.20% in the current fiscal year and a further -34.30% over the following year.
What are analyst thoughts on MeiraGTx Holdings plc?
Looking forward to the MeiraGTx Holdings plc share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for MeiraGTx Holdings plc stock at $32.00 within the next 12 months, which represents almost 49.63 per cent growth from its previous closing price of $16.12. The highest analysts’ target for MeiraGTx Holdings plc stock projections is $55.00 and the lowest one is $22.00. Still, 7 analysts sharing their consensus rating for MGTX stock in 2021 agree that it is a Buy.