Miragen Therapeutics Inc (NASDAQ:MGEN) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 573,800 shares, a decline of 10.8% from the December 15th total of 643,500 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily volume of 448,700 shares, the days-to-cover ratio is currently 1.3 days.
A number of hedge funds have recently modified their holdings of MGEN. A.R.T. Advisors LLC bought a new stake in Miragen Therapeutics during the 2nd quarter valued at $28,000. Citadel Advisors LLC purchased a new position in shares of Miragen Therapeutics during the 2nd quarter valued at $57,000. Invesco Ltd. purchased a new position in shares of Miragen Therapeutics during the 2nd quarter valued at $71,000. Jane Street Group LLC purchased a new position in shares of Miragen Therapeutics during the 2nd quarter valued at $159,000. Finally, Paloma Partners Management Co purchased a new position in shares of Miragen Therapeutics during the 2nd quarter valued at $239,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.
MGEN stock traded up $0.01 during midday trading on Thursday, reaching $0.69. 558,838 shares of the company’s stock traded hands, compared to its average volume of 871,965. The company has a 50-day moving average price of $0.60 and a two-hundred day moving average price of $1.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.68 and a current ratio of 3.68. Miragen Therapeutics has a 52 week low of $0.44 and a 52 week high of $3.80. The firm has a market capitalization of $20.98 million, a PE ratio of -0.62 and a beta of 1.36.
Miragen Therapeutics (NASDAQ:MGEN) last issued its earnings results on Thursday, November 7th. The medical research company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). Miragen Therapeutics had a negative net margin of 1,037.02% and a negative return on equity of 113.02%. The business had revenue of $0.70 million for the quarter, compared to the consensus estimate of $1.67 million. As a group, analysts predict that Miragen Therapeutics will post -1.12 EPS for the current fiscal year.
A number of equities research analysts recently commented on MGEN shares. Zacks Investment Research cut shares of Miragen Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of Miragen Therapeutics in a report on Monday, December 2nd. Wedbush reissued a “buy” rating and set a $8.00 target price (down previously from $24.00) on shares of Miragen Therapeutics in a report on Thursday, December 12th. Finally, Robert W. Baird cut shares of Miragen Therapeutics from an “outperform” rating to a “neutral” rating in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $3.92.
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 miR-155 for treating various blood cancers, such as cutaneous T-cell lymphoma, adult T-cell lymphoma/leukemia, diffuse large B-cell lymphoma, and chronic lymphocytic leukemia; Remlarsen, a replacement for miR-29, a microRNA that is found at abnormally low levels in various pathological fibrotic conditions, including cutaneous, ocular, and idiopathic pulmonary fibrosis; and MRG-110, an inhibitor of miR-92, a microRNA expressed in endothelial cells for the treatment of heart failure, as well as surgical incisions in high risk populations, severe lacerations, and severe burns in the United States and Japan.
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