Adage Capital Partners GP L.L.C. Has $30.66 Million Position in MeiraGTx Holdings plc (NASDAQ:MGTX)

Adage Capital Partners GP L.L.C. lessened its holdings in MeiraGTx Holdings plc (NASDAQ:MGTX - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,034,578 shares of the company's stock after selling 194,521 shares during the period. Adage Capital Partners GP L.L.C. owned about 6.44% of MeiraGTx worth $30,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its holdings in MeiraGTx by 106.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock valued at $30,000 after purchasing an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of MeiraGTx by 68.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock worth $30,000 after purchasing an additional 2,016 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in shares of MeiraGTx in the 4th quarter worth approximately $88,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of MeiraGTx by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,571 shares of the company's stock worth $101,000 after purchasing an additional 1,685 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in MeiraGTx by 41.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,976 shares of the company's stock valued at $110,000 after acquiring an additional 5,259 shares during the period. Hedge funds and other institutional investors own 67.48% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

MeiraGTx Price Performance

Shares of MGTX stock traded down $0.01 during mid-day trading on Thursday, hitting $7.09. 153,080 shares of the stock traded hands, compared to its average volume of 326,378. MeiraGTx Holdings plc has a twelve month low of $3.85 and a twelve month high of $8.75. The firm has a market cap of $558.69 million, a price-to-earnings ratio of -5.90, a price-to-earnings-growth ratio of 0.37 and a beta of 1.21. The company's 50-day simple moving average is $6.53 and its 200-day simple moving average is $6.34. 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 (NASDAQ:MGTX - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $21.39 million for the quarter, compared to analyst estimates of $1.50 million. As a group, equities research analysts expect that MeiraGTx Holdings plc will post -1.48 earnings per share for the current 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.