83,049 Shares in MeiraGTx Holdings PLC (NASDAQ:MGTX) Purchased by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC has acquired a new stake in MeiraGTx Holdings PLC, purchasing 83,049 shares valued at approximately $563,000, which signifies that they own around 0.10% of the company.
• Several large investors have increased their positions in MeiraGTx, with Summit Investment Advisors Inc. growing its holdings by 106.7% during the fourth quarter, contributing to a trend of heightened institutional interest in the stock.
• CFO Richard Giroux and CEO Alexandria Forbes recently sold shares of MeiraGTx, indicating a decrease in their ownership positions of 2.74% and 3.37%, respectively, raising potential concerns among investors about insider sentiment.

Informed Momentum Co LLC acquired a new stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 83,049 shares of the company's stock, valued at approximately $563,000. Informed Momentum Co LLC owned approximately 0.10% of MeiraGTx as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of MGTX. Summit Investment Advisors Inc. grew its holdings in shares of MeiraGTx by 106.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock valued at $30,000 after buying an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC boosted 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 purchasing an additional 2,016 shares during the last quarter. GAMMA Investing LLC boosted its stake in MeiraGTx by 3,606.7% during the 1st quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock valued at $30,000 after purchasing an additional 4,328 shares during the last quarter. CWM LLC increased its holdings in shares of MeiraGTx by 1,737.7% in the 1st quarter. CWM LLC now owns 8,674 shares of the company's stock worth $59,000 after purchasing an additional 8,202 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of MeiraGTx by 41.2% in the fourth quarter. ProShare Advisors LLC now owns 16,814 shares of the company's stock worth $102,000 after purchasing an additional 4,910 shares during the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MeiraGTx

In other news, CFO Richard Giroux sold 24,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $8.52, for a total transaction of $204,480.00. Following the completion of the sale, the chief financial officer owned 853,494 shares of the company's stock, valued at $7,271,768.88. This represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Alexandria Forbes sold 47,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $7.97, for a total transaction of $378,575.00. Following the completion of the transaction, the chief executive officer directly owned 1,361,483 shares in the company, valued at approximately $10,851,019.51. The trade was a 3.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.50% of the company's stock.

MeiraGTx Price Performance

Shares of MGTX opened at $8.02 on Wednesday. The firm has a fifty day simple moving average of $7.42 and a two-hundred day simple moving average of $6.67. The firm has a market cap of $644.49 million, a PE ratio of -3.46 and a beta of 1.25. The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 2.34. MeiraGTx Holdings PLC has a 1-year low of $3.85 and a 1-year high of $8.98.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its quarterly earnings data 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 484.90% and a negative return on equity of 241.05%. The firm had revenue of $1.93 million for the quarter, compared to analysts' expectations of $4.44 million. On average, equities analysts anticipate that MeiraGTx Holdings PLC will post -1.48 EPS for the current year.

Wall Street Analyst Weigh In

MGTX has been the topic of several recent analyst reports. Wall Street Zen raised MeiraGTx from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Chardan Capital dropped 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.

MeiraGTx Company 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.

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