Miragen Therapeutics (MGEN) Trading Down 6.7%

Miragen Therapeutics, Inc. (NASDAQ:MGEN)’s share price was down 6.7% during mid-day trading on Thursday . The stock traded as low as $6.40 and last traded at $6.52. Approximately 668,513 shares were traded during trading, an increase of 239% from the average daily volume of 196,982 shares. The stock had previously closed at $6.99.

Several equities analysts have recently issued reports on MGEN shares. Chardan Capital reissued a “buy” rating on shares of Miragen Therapeutics in a research note on Tuesday, January 16th. Zacks Investment Research raised Miragen Therapeutics from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a research note on Thursday, January 18th. B. Riley started coverage on Miragen Therapeutics in a research note on Friday, January 5th. They set a “buy” rating and a $15.50 target price on the stock. Wedbush reaffirmed a “buy” rating and issued a $19.00 price target on shares of Miragen Therapeutics in a research note on Friday, December 1st. Finally, Cann reaffirmed a “buy” rating and issued a $13.00 price target on shares of Miragen Therapeutics in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $16.46.

The stock has a market cap of $145.46, a P/E ratio of 35.87 and a beta of 1.43. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.11 and a quick ratio of 7.11.

Miragen Therapeutics (NASDAQ:MGEN) last issued its quarterly earnings results on Wednesday, November 8th. The medical research company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.12. The company had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $0.72 million. Miragen Therapeutics had a negative return on equity of 80.31% and a negative net margin of 720.38%. equities analysts forecast that Miragen Therapeutics, Inc. will post -1.35 EPS for the current fiscal year.

In related news, Director Thomas E. Hughes sold 12,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $8.00, for a total value of $96,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 44.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC boosted its holdings in Miragen Therapeutics by 372.8% in the fourth quarter. Virtu Financial LLC now owns 51,896 shares of the medical research company’s stock worth $541,000 after acquiring an additional 40,920 shares in the last quarter. BlackRock Inc. boosted its holdings in Miragen Therapeutics by 4.7% in the fourth quarter. BlackRock Inc. now owns 574,917 shares of the medical research company’s stock worth $5,997,000 after acquiring an additional 25,704 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Miragen Therapeutics by 67.1% in the fourth quarter. Bank of New York Mellon Corp now owns 45,775 shares of the medical research company’s stock worth $478,000 after acquiring an additional 18,374 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Miragen Therapeutics by 203.8% in the fourth quarter. Wells Fargo & Company MN now owns 17,804 shares of the medical research company’s stock worth $185,000 after acquiring an additional 11,943 shares in the last quarter. Finally, Aveo Capital Partners LLC bought a new stake in Miragen Therapeutics in the fourth quarter worth $279,000. 22.52% of the stock is currently owned by institutional investors and hedge funds.

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About Miragen Therapeutics

Signal Genetics, Inc is a commercial stage, molecular genetic diagnostic company. The Company is focused on providing diagnostic services that help physicians to make decisions concerning the care of cancer patients. The Company’s diagnostic service is the Myeloma Prognostic Risk Signature (MyPRS) test.

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