MeiraGTx Holdings plc (NASDAQ: MGTX)’s stock price has plunge by 14.74relation to previous closing price of 4.00. Nevertheless, the company has seen a 3.84% surge in its stock price over the last five trading sessions. zacks.com reported 2024-08-12 that MeiraGTx Holdings PLC (MGTX) came out with a quarterly loss of $0.76 per share versus the Zacks Consensus Estimate of a loss of $0.31. This compares to loss of $0.53 per share a year ago.
Is It Worth Investing in MeiraGTx Holdings plc (NASDAQ: MGTX) Right Now?
Additionally, the 36-month beta value for MGTX is 1.33. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for MGTX is 46.87M and currently, short sellers hold a 3.31% ratio of that float. The average trading volume of MGTX on August 15, 2024 was 204.84K shares.
MGTX’s Market Performance
MGTX’s stock has seen a 3.84% increase for the week, with a -8.02% drop in the past month and a -17.00% fall in the past quarter. The volatility ratio for the week is 8.72%, and the volatility levels for the past 30 days are at 7.93% for MeiraGTx Holdings plc The simple moving average for the past 20 days is -0.25% for MGTX’s stock, with a -14.84% simple moving average for the past 200 days.
Analysts’ Opinion of MGTX
Many brokerage firms have already submitted their reports for MGTX stocks, with Chardan Capital Markets repeating the rating for MGTX by listing it as a “Buy.” The predicted price for MGTX in the upcoming period, according to Chardan Capital Markets is $36 based on the research report published on July 31, 2024 of the current year 2024.
RBC Capital Mkts, on the other hand, stated in their research note that they expect to see MGTX reach a price target of $27. The rating they have provided for MGTX stocks is “Outperform” according to the report published on October 23rd, 2020.
BofA Securities gave a rating of “Buy” to MGTX, setting the target price at $20 in the report published on September 15th of the previous year.
MGTX Trading at 1.80% from the 50-Day Moving Average
After a stumble in the market that brought MGTX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -39.61% of loss for the given period.
Volatility was left at 7.93%, however, over the last 30 days, the volatility rate increased by 8.72%, as shares sank -2.25% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.22% lower at present.
During the last 5 trading sessions, MGTX rose by +3.28%, which changed the moving average for the period of 200-days by +23.38% in comparison to the 20-day moving average, which settled at $4.60. In addition, MeiraGTx Holdings plc saw -34.62% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MGTX starting from PERCEPTIVE ADVISORS LLC, who purchase 1,250,000 shares at the price of $4.00 back on Aug 12 ’24. After this action, PERCEPTIVE ADVISORS LLC now owns 12,531,103 shares of MeiraGTx Holdings plc, valued at $5,000,000 using the latest closing price.
Stock Fundamentals for MGTX
Current profitability levels for the company are sitting at:
- -20.83 for the present operating margin
- -0.71 for the gross margin
The net margin for MeiraGTx Holdings plc stands at -11.47. The total capital return value is set at -0.77. Equity return is now at value -91.51, with -32.29 for asset returns.
Based on MeiraGTx Holdings plc (MGTX), the company’s capital structure generated 0.49 points at debt to capital in total, while cash flow to debt ratio is standing at -1.24. The debt to equity ratio resting at 0.96. The interest coverage ratio of the stock is -24.79.
Currently, EBITDA for the company is -123.33 million with net debt to EBITDA at 0.08. When we switch over and look at the enterprise to sales, we see a ratio of 35.15. The receivables turnover for the company is 1.57for trailing twelve months and the total asset turnover is 0.03. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.36.
Conclusion
In conclusion, MeiraGTx Holdings plc (MGTX) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
