Northern Trust Corp boosted its position in Miragen Therapeutics Inc (NASDAQ:MGEN) by 60.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,612 shares of the medical research company’s stock after purchasing an additional 103,348 shares during the period. Northern Trust Corp’s holdings in Miragen Therapeutics were worth $1,760,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC increased its holdings in Miragen Therapeutics by 102.7% in the 2nd quarter. Millennium Management LLC now owns 118,175 shares of the medical research company’s stock worth $758,000 after purchasing an additional 59,870 shares in the last quarter. Opaleye Management Inc. increased its holdings in Miragen Therapeutics by 13.2% in the 2nd quarter. Opaleye Management Inc. now owns 1,200,000 shares of the medical research company’s stock worth $7,692,000 after purchasing an additional 140,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Miragen Therapeutics by 30.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 214,762 shares of the medical research company’s stock worth $1,377,000 after purchasing an additional 50,315 shares in the last quarter. BlackRock Inc. increased its holdings in Miragen Therapeutics by 72.1% in the 2nd quarter. BlackRock Inc. now owns 1,392,476 shares of the medical research company’s stock worth $8,927,000 after purchasing an additional 583,156 shares in the last quarter. Finally, BSW Wealth Partners acquired a new position in Miragen Therapeutics in the 2nd quarter worth about $143,000. 36.31% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on MGEN. Wedbush reaffirmed a “buy” rating and issued a $19.00 target price on shares of Miragen Therapeutics in a report on Wednesday, August 8th. ValuEngine cut Miragen Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Zacks Investment Research cut Miragen Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, August 11th. Finally, Cann reaffirmed a “buy” rating and issued a $19.00 target price on shares of Miragen Therapeutics in a report on Monday, October 1st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $15.34.
Miragen Therapeutics (NASDAQ:MGEN) last issued its quarterly earnings results on Wednesday, November 7th. The medical research company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.03. The company had revenue of $0.94 million during the quarter, compared to analysts’ expectations of $1.89 million. Miragen Therapeutics had a negative return on equity of 48.03% and a negative net margin of 316.11%. As a group, equities analysts anticipate that Miragen Therapeutics Inc will post -1.07 EPS for the current fiscal year.
In related news, Director Thomas E. Hughes purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, October 11th. The stock was bought at an average price of $4.77 per share, with a total value of $47,700.00. Following the completion of the purchase, the director now owns 12,827 shares in the company, valued at approximately $61,184.79. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 18.90% of the company’s stock.
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Miragen Therapeutics Company Profile
Miragen Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in discovering and developing proprietary RNA-targeted therapies with a specific focus on microRNAs and their role in diseases where there is a high unmet medical need. Its three lead product candidates include cobomarsen, an inhibitor of microRNA-155, which is in Phase I clinical trial for treating cutaneous T-cell lymphoma; MRG-201, a replacement for microRNA-29, which is in Phase I clinical trial that is found at low levels in various pathological fibrotic conditions, including cutaneous, cardiac, renal, hepatic, and pulmonary fibrosis, as well as systemic sclerosis; and MRG-110, an inhibitor of microRNA-92 that is expressed in endothelial cells and has shown to accelerate the formation of new blood vessels in preclinical models of heart failure, peripheral ischemia, and dermal wounding in the United States and Japan.
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