Sanofi Acquires Shares of 12,197,737 MeiraGTx Holdings plc (NASDAQ:MGTX)

Sanofi purchased a new position in MeiraGTx Holdings plc (NASDAQ:MGTX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,197,737 shares of the company's stock, valued at approximately $74,284,000. MeiraGTx makes up 42.6% of Sanofi's holdings, making the stock its biggest position. Sanofi owned approximately 15.61% of MeiraGTx as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in MeiraGTx by 16.4% in the 4th 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 in the last quarter. JPMorgan Chase & Co. increased its stake 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 purchasing an additional 4,186 shares in the last quarter. Northern Trust Corp increased its stake in MeiraGTx by 18.9% in the 4th quarter. Northern Trust Corp now owns 315,665 shares of the company's stock worth $1,922,000 after buying an additional 50,267 shares in the last quarter. Privium Fund Management B.V. increased its stake in MeiraGTx by 5.2% in the 4th quarter. Privium Fund Management B.V. now owns 225,078 shares of the company's stock worth $1,371,000 after buying an additional 11,118 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in MeiraGTx by 43.2% during the fourth quarter. Nuveen Asset Management LLC now owns 191,311 shares of the company's stock valued at $1,165,000 after acquiring an additional 57,737 shares during the period. Institutional investors own 67.48% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MGTX. Wall Street Zen lowered MeiraGTx from a "hold" rating to a "sell" rating in a research note on Thursday. Royal Bank of Canada increased their price objective on shares of MeiraGTx from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Monday, March 17th. Finally, Chardan Capital reduced their price objective on shares of MeiraGTx from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th.

Insider Transactions at MeiraGTx

In other MeiraGTx news, CEO Alexandria Forbes sold 47,500 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $5.34, for a total transaction of $253,650.00. Following the completion of the transaction, the chief executive officer now owns 1,408,983 shares in the company, valued at $7,523,969.22. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Giroux sold 24,000 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $6.00, for a total transaction of $144,000.00. Following the completion of the sale, the chief financial officer now owns 882,494 shares in the company, valued at approximately $5,294,964. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.50% of the company's stock.

MeiraGTx Price Performance

Shares of MGTX traded down $0.12 during midday trading on Thursday, hitting $5.19. 181,964 shares of the company traded hands, compared to its average volume of 360,253. The stock has a market cap of $416.69 million, a price-to-earnings ratio of -4.29, a PEG ratio of 0.37 and a beta of 1.30. The firm has a 50 day moving average of $6.16 and a 200-day moving average of $6.33. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34. MeiraGTx Holdings plc has a 52 week low of $3.85 and a 52 week high of $8.75.

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

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.