Acuitas Investments LLC Takes Position in MeiraGTx Holdings PLC (NASDAQ:MGTX)

Acuitas Investments LLC bought a new position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 42,115 shares of the company's stock, valued at approximately $286,000. Acuitas Investments LLC owned about 0.05% of MeiraGTx at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. increased its stake in shares of MeiraGTx by 106.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock worth $30,000 after purchasing an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in MeiraGTx by 68.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock valued at $30,000 after purchasing an additional 2,016 shares during the last quarter. GAMMA Investing LLC grew its holdings in MeiraGTx by 3,606.7% during the first quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock worth $30,000 after purchasing an additional 4,328 shares during the period. Polymer Capital Management US LLC acquired a new position in MeiraGTx during the fourth quarter worth approximately $88,000. Finally, ProShare Advisors LLC raised its stake in MeiraGTx by 41.2% in the fourth quarter. ProShare Advisors LLC now owns 16,814 shares of the company's stock valued at $102,000 after buying an additional 4,910 shares during the period. 67.48% of the stock is owned by institutional investors.

Insider Transactions at MeiraGTx

In other news, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, April 22nd. The shares were 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 directly owned 882,494 shares in the company, valued at approximately $5,294,964. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alexandria Forbes sold 47,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 1,408,983 shares of the company's stock, valued at approximately $7,523,969.22. This trade represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by company insiders.

MeiraGTx Stock Performance

Shares of NASDAQ:MGTX traded up $0.59 during trading on Thursday, reaching $7.51. 448,022 shares of the stock were exchanged, compared to its average volume of 390,255. MeiraGTx Holdings PLC has a 12 month low of $3.85 and a 12 month high of $8.75. The stock has a 50-day moving average price of $6.02 and a 200-day moving average price of $6.28. The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 2.34. The firm has a market cap of $603.10 million, a PE ratio of -3.23 and a beta of 1.24.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.13). The firm had revenue of $1.93 million during the quarter, compared to the consensus estimate of $4.44 million. MeiraGTx had a negative net margin of 484.90% and a negative return on equity of 241.05%. Research analysts expect that MeiraGTx Holdings PLC will post -1.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on MGTX shares. Royal Bank Of Canada lifted their target price on MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a research note on Monday, March 17th. Chardan Capital reduced their price objective on shares of MeiraGTx from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of MeiraGTx from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

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.