MeiraGTx Holdings plc (NASDAQ:MGTX) price on Friday, May 23, rose 0.79% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $5.10.
A look at the stock’s price movement, the close in the last trading session was $5.06. Turning to its 52-week performance, $8.75 and $3.85 were the 52-week high and 52-week low respectively. Overall, MGTX moved -22.14% over the past month.
MeiraGTx Holdings plc’s market cap currently stands at around $409.86 million, with investors looking forward to this quarter’s earnings report slated for in June.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MGTX is a 75% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
MGTX’s current price about -11.67% and -17.77% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.17, while 7-day volatility ratio is 5.13% and 5.78% in the 30-day chart. Further, MeiraGTx Holdings plc (MGTX) has a beta value of 1.21, and an average true range (ATR) of 0.45. Analysts have given the company’s stock an average 52-week price target of $9, forecast between a low of $9 and high of $9. Looking at the price targets, the low is -76.47% off current price level while to achieve the yearly target high, price needs to move -76.47%. Nonetheless, investors will most likely welcome a -76.47% jump to $9 which is the analysts’ median price.
If we refocus on MeiraGTx Holdings plc (NASDAQ:MGTX), historical trading data shows that trading volumes averaged 677.61K over the past 3 months. The company’s latest data on shares outstanding shows there are 79.42 million shares.
The 32.68% of MeiraGTx Holdings plc’s shares are in the hands of company insiders while institutional holders own 51.29% of the company’s shares. Current price change has pushed the stock -16.26% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MGTX stock continues to rise going into the next quarter.
