Royce & Associates LP reduced its position in MeiraGTx Holdings plc (NASDAQ:MGTX - Free Report) by 23.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 610,275 shares of the company's stock after selling 185,117 shares during the quarter. Royce & Associates LP owned 0.78% of MeiraGTx worth $3,717,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Knoll Capital Management LLC purchased a new stake in MeiraGTx in the 3rd quarter worth about $5,212,000. Erste Asset Management GmbH bought a new position in MeiraGTx in the 3rd quarter worth about $2,795,000. State Street Corp grew its stake in MeiraGTx by 0.9% in the 3rd quarter. State Street Corp now owns 574,727 shares of the company's stock worth $2,397,000 after acquiring an additional 5,251 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new position in MeiraGTx in the 3rd quarter worth about $1,636,000. Finally, JPMorgan Chase & Co. grew its stake in MeiraGTx by 1.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 342,667 shares of the company's stock worth $1,429,000 after acquiring an additional 4,186 shares in the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
MGTX has been the topic of a number of research analyst reports. Chardan Capital restated a "buy" rating and issued a $36.00 target price on shares of MeiraGTx in a research note on Monday, February 24th. Royal Bank of Canada upped their target price on shares of MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a research note on Monday, March 17th.
Check Out Our Latest Research Report on MGTX
Insider Activity
In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 in the company, valued at $5,346,166.63. This trade represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alexandria Forbes sold 35,839 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $6.47, for a total transaction of $231,878.33. Following the completion of the sale, the chief executive officer now owns 1,395,102 shares of the company's stock, valued at approximately $9,026,309.94. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.40% of the company's stock.
MeiraGTx Stock Down 1.2 %
Shares of NASDAQ MGTX traded down $0.09 during midday trading on Friday, reaching $7.56. 849,485 shares of the company's stock traded hands, compared to its average volume of 272,764. 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 simple moving average is $6.67 and its 200-day simple moving average is $5.95. MeiraGTx Holdings plc has a one year low of $3.85 and a one year high of $8.75. The company has a market cap of $596.14 million, a price-to-earnings ratio of -6.25, a P/E/G ratio of 0.37 and a beta of 1.23.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.02). MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. The business had revenue of $21.39 million for the quarter, compared to the consensus estimate of $1.50 million. On average, analysts predict that MeiraGTx Holdings plc will post -1.48 EPS for the current fiscal year.
About MeiraGTx
(
Free Report)
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.
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