MeiraGTx Holdings plc (NASDAQ:MGTX) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in MeiraGTx Holdings plc (NASDAQ:MGTX - Free Report) by 18.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 282,306 shares of the company's stock after selling 64,591 shares during the period. Russell Investments Group Ltd. owned approximately 0.36% of MeiraGTx worth $1,719,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MGTX. Garden State Investment Advisory Services LLC acquired a new stake in MeiraGTx during the third quarter worth about $1,636,000. Knott David M Jr grew its holdings in MeiraGTx by 1,921.7% during the fourth quarter. Knott David M Jr now owns 95,080 shares of the company's stock worth $579,000 after acquiring an additional 90,377 shares during the period. Geode Capital Management LLC grew its holdings in MeiraGTx by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 570,646 shares of the company's stock worth $3,475,000 after acquiring an additional 80,407 shares during the period. Barclays PLC grew its holdings in MeiraGTx by 107.1% during the third quarter. Barclays PLC now owns 147,827 shares of the company's stock worth $618,000 after acquiring an additional 76,437 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in MeiraGTx during the fourth quarter worth about $459,000. 67.48% of the stock is owned by institutional investors and hedge funds.

MeiraGTx Price Performance

Shares of NASDAQ MGTX traded down $0.06 during midday trading on Thursday, hitting $6.44. The stock had a trading volume of 44,568 shares, compared to its average volume of 516,789. The company has a market capitalization of $507.43 million, a PE ratio of -5.32, a P/E/G ratio of 0.37 and a beta of 1.21. The stock has a 50 day simple moving average of $6.54 and a 200-day simple moving average of $6.25. MeiraGTx Holdings plc has a 1 year low of $3.85 and a 1 year high of $8.75. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86.

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

Wall Street Analyst Weigh In

Several analysts recently commented on MGTX shares. Royal Bank of Canada raised their target price on MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a report on Monday, March 17th. Chardan Capital reiterated a "buy" rating and set a $36.00 price target on shares of MeiraGTx in a research report on Monday, February 24th.

Insider Activity

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $6.00, for a total value of $144,000.00. Following the completion of the sale, the chief financial officer now directly owns 882,494 shares of the company's stock, valued at $5,294,964. This trade represents a 2.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alexandria Forbes sold 47,500 shares of the business's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $5.34, for a total transaction of $253,650.00. Following the transaction, the chief executive officer now directly owns 1,408,983 shares in the company, valued at approximately $7,523,969.22. The trade was a 3.26 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.40% of the company's stock.

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.