Knott David M Jr Buys 90,377 Shares of MeiraGTx Holdings plc (NASDAQ:MGTX)

Knott David M Jr grew its position in shares of MeiraGTx Holdings plc (NASDAQ:MGTX - Free Report) by 1,921.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,080 shares of the company's stock after acquiring an additional 90,377 shares during the quarter. Knott David M Jr owned about 0.12% of MeiraGTx worth $579,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Erste Asset Management GmbH acquired a new stake in shares of MeiraGTx in the 3rd quarter worth about $2,795,000. State Street Corp raised its stake in shares of MeiraGTx by 0.9% in the third quarter. State Street Corp now owns 574,727 shares of the company's stock worth $2,397,000 after purchasing an additional 5,251 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of MeiraGTx by 16.4% in the fourth quarter. Geode Capital Management LLC now owns 570,646 shares of the company's stock worth $3,475,000 after purchasing an additional 80,407 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of MeiraGTx in the third quarter valued at approximately $1,636,000. Finally, JPMorgan Chase & Co. boosted its position in shares of MeiraGTx by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 342,667 shares of the company's stock valued at $1,429,000 after buying an additional 4,186 shares during the last quarter. Institutional investors own 67.48% of the company's stock.

Insider Activity

In other news, CEO Alexandria Forbes sold 35,839 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $6.47, for a total transaction of $231,878.33. Following the completion of the transaction, the chief executive officer now owns 1,395,102 shares in the company, valued at approximately $9,026,309.94. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total value of $150,960.00. Following the completion of the sale, the chief financial officer now directly owns 849,947 shares of the company's stock, valued at approximately $5,346,166.63. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.40% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of research firms recently commented on MGTX. Chardan Capital reissued a "buy" rating and issued a $36.00 price target on shares of MeiraGTx in a research report on Monday, February 24th. Royal Bank of Canada raised their price target on shares of MeiraGTx from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Monday, March 17th.

MeiraGTx Stock Performance

MGTX stock traded down $0.23 during midday trading on Thursday, hitting $6.13. The company's stock had a trading volume of 1,103,606 shares, compared to its average volume of 294,667. The stock has a market cap of $483.38 million, a price-to-earnings ratio of -5.07, a PEG ratio of 0.37 and a beta of 1.21. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. The stock's 50-day moving average price is $6.84 and its 200 day moving average price is $6.12. MeiraGTx Holdings plc has a 1 year low of $3.85 and a 1 year high of $8.75.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.02). MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. The company had revenue of $21.39 million during the quarter, compared to analysts' expectations of $1.50 million. On average, equities analysts forecast that MeiraGTx Holdings plc will post -1.48 EPS for the current year.

MeiraGTx Company Profile

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia.