BlackRock Fund Advisors recently announced the acquisition of new stake in Miragen Therapeutics Inc. (NASDAQ:MGEN). The institutional investor has increased its shareholding in the Healthcare company by 30.69% to 0.51 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 0.95% valued currently at $0.56 million. In addition, Geode Capital Management LLC raised its holdings by 21621.0 to 0.18 million shares. And Squarepoint OPS LLC has lifted its position by 77.12% or 51870.0 shares – to 0.12 million shares.
With over 1.29 million Miragen Therapeutics Inc. (MGEN) shares trading Tuesday and a closing price of $0.87 on the day, the dollar volume was approximately $1.12 million. The shares have shown a negative weekly performance of -14.70% and its price on 09/01/20 lost nearly -6.03%. Currently, there are 56.61M common shares owned by the public and among those 53.12M 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: 5 analysts who have offered their price forecasts for MGEN have a consensus price objective of $5.20. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $4.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Miragen Therapeutics Inc. stock is 1.50 for the next 12 months. But an upside of 85.5% will see the stock hit the forecast high price target while mean target price for the stock is $5.00.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 11,249 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 Miragen Therapeutics Inc. are Fidelity Select Port. – Biotechno, Vanguard Total Stock Market Index, and Vanguard Extended Market Index Fu. Fidelity Select Port. – Biotechno owns 3.89 million shares of the company’s stock, all valued at over $4.32 million. Vanguard Extended Market Index Fu now owns shares totaling to 0.62% of the shares outstanding.
Shares of Miragen Therapeutics Inc. (NASDAQ: MGEN) opened at $0.9257, down -$0.0 from a prior closing price of $0.93. However, the script later closed the day at $0.87, down -6.03%. The company’s stock has a 5-day price change of -14.70% and -6.04% over the past three months. MGEN shares are trading 81.31% year to date (YTD), with the 12-month market performance down to -24.34% lower. It has a 12-month low price of $0.31 and touched a high of $2.27 over the same period. Currently, 1.29 million shares have been traded, compared to an average intraday trading volume of 2.90 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -19.25%, -19.05%, and 8.19% respectively.
Institutional ownership of Miragen Therapeutics Inc. (NASDAQ: MGEN) shares accounts for 19.10% of the company’s 56.61M shares outstanding. Mutual fund holders own 18.12%, while other institutional holders and individual stakeholders account for 3.59% and 10.77% respectively.
It has a market capitalization of $50.60M and a beta (3y monthly) value of 2.18. The earnings-per-share (ttm) stands at -$0.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.11% over the week and 6.71% over the month.
Analysts forecast that Miragen Therapeutics Inc. (MGEN) will achieve an EPS of -$0.13 for the current quarter, -$0.13 for the next quarter and -$0.51 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.17 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.36 a year ago. Earnings per share for the fiscal year are expected to decrease by -20.90%, and 7.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Miragen Therapeutics Inc. (MGEN) as a “Strong Buy” at a consensus score of 1.50. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MGEN, a number of firms have released research notes about the stock. Robert W. Baird stated their Neutral rating for the stock in a research note on December 12, 2019, with the firm’s price target at $5-$1. Robert W. Baird coverage for the Miragen Therapeutics Inc. (MGEN) stock in a research note released on January 04, 2019 offered a Outperform rating with a price target of. B. Riley FBR was of a view on December 31, 2018 that the stock is Buy, while Jefferies gave the stock Buy rating on March 29, 2018, issuing a price target of $14. Evercore ISI on their part issued Outperform rating on March 09, 2018.