Acuitas Investments LLC Invests $286,000 in MeiraGTx Holdings PLC (NASDAQ:MGTX)

Acuitas Investments LLC purchased a new position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 42,115 shares of the company's stock, valued at approximately $286,000. Acuitas Investments LLC owned approximately 0.05% of MeiraGTx as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of MeiraGTx by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 151,126 shares of the company's stock valued at $920,000 after buying an additional 1,379 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in MeiraGTx by 68.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock valued at $30,000 after acquiring an additional 2,016 shares in the last quarter. Corebridge Financial Inc. raised its holdings in MeiraGTx by 11.6% in the 4th quarter. Corebridge Financial Inc. now owns 23,147 shares of the company's stock valued at $141,000 after acquiring an additional 2,405 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in MeiraGTx by 106.7% in 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 in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of MeiraGTx by 6.1% during the 1st quarter. Rhumbline Advisers now owns 58,227 shares of the company's stock worth $395,000 after purchasing an additional 3,336 shares during the last quarter. 67.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx 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 in the company, valued at approximately $7,523,969.22. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Giroux sold 24,000 shares of the company'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 transaction, the chief financial officer owned 882,494 shares in the company, valued at $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. 7.50% of the stock is currently owned by insiders.

MeiraGTx Trading Up 8.5%

Shares of MGTX stock traded up $0.59 during trading on Friday, hitting $7.51. 448,022 shares of the stock traded hands, compared to its average volume of 391,435. MeiraGTx Holdings PLC has a 52-week low of $3.85 and a 52-week high of $8.75. The firm has a market capitalization of $603.10 million, a P/E ratio of -3.23 and a beta of 1.24. The firm's fifty day moving average price is $6.04 and its 200-day moving average price is $6.29. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.53 and a quick ratio of 1.51.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its 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). The business had revenue of $1.93 million during the quarter, compared to analysts' expectations of $4.44 million. MeiraGTx had a negative net margin of 484.90% and a negative return on equity of 241.05%. As a group, research analysts forecast that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MGTX shares. Wall Street Zen raised MeiraGTx from a "sell" rating to a "hold" rating in a report on Saturday. 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 research note on Monday, March 17th. Finally, 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 research report on Wednesday, May 14th.

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.