12,197,737 Shares in MeiraGTx Holdings plc (NASDAQ:MGTX) Acquired by Sanofi

Sanofi acquired a new position in MeiraGTx Holdings plc (NASDAQ:MGTX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,197,737 shares of the company's stock, valued at approximately $74,284,000. MeiraGTx comprises about 42.6% of Sanofi's investment portfolio, making the stock its largest position. Sanofi owned about 15.61% of MeiraGTx as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MGTX. Barclays PLC boosted its stake in MeiraGTx by 107.1% in the 3rd quarter. Barclays PLC now owns 147,827 shares of the company's stock worth $618,000 after purchasing an additional 76,437 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of MeiraGTx by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 342,667 shares of the company's stock worth $1,429,000 after buying an additional 4,186 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of MeiraGTx by 13.3% in the fourth quarter. SG Americas Securities LLC now owns 22,240 shares of the company's stock worth $135,000 after buying an additional 2,617 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of MeiraGTx in the fourth quarter worth about $459,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of MeiraGTx by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,571 shares of the company's stock worth $101,000 after buying an additional 1,685 shares in the last quarter. Hedge funds and other institutional investors own 67.48% of the company's stock.

MeiraGTx Price Performance

NASDAQ MGTX traded up $0.16 during trading on Monday, reaching $5.15. The company's stock had a trading volume of 453,020 shares, compared to its average volume of 359,733. The stock has a market capitalization of $413.88 million, a PE ratio of -4.26, a P/E/G ratio of 0.37 and a beta of 1.30. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a fifty day moving average of $6.27 and a 200 day moving average of $6.34. MeiraGTx Holdings plc has a one year low of $3.85 and a one year high of $8.75.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.13). The business had revenue of $1.93 million during the quarter, compared to the consensus estimate of $4.44 million. MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. Analysts expect that MeiraGTx Holdings plc will post -1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a report on Monday, March 17th. Chardan Capital lowered their price target on shares of MeiraGTx from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th.

Insiders Place Their Bets

In other MeiraGTx news, CEO Alexandria Forbes sold 47,500 shares of the company's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total value of $253,650.00. Following the transaction, the chief executive officer now directly owns 1,408,983 shares in the company, valued at $7,523,969.22. This represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now owns 882,494 shares in the company, valued at $5,294,964. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company's stock.

MeiraGTx 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.