Informed Momentum Co LLC Invests $563,000 in MeiraGTx Holdings PLC (NASDAQ:MGTX)

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 purchased a new stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 83,049 shares of the company's stock, valued at approximately $563,000. Informed Momentum Co LLC owned 0.10% of MeiraGTx as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Northern Trust Corp lifted its stake in shares of MeiraGTx by 18.9% during the fourth quarter. Northern Trust Corp now owns 315,665 shares of the company's stock valued at $1,922,000 after acquiring an additional 50,267 shares during the period. Geode Capital Management LLC lifted its stake in shares of MeiraGTx by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 570,646 shares of the company's stock valued at $3,475,000 after acquiring an additional 80,407 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of MeiraGTx by 23.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,275 shares of the company's stock valued at $160,000 after acquiring an additional 5,010 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of MeiraGTx by 45.1% during the fourth quarter. Deutsche Bank AG now owns 42,198 shares of the company's stock valued at $257,000 after acquiring an additional 13,111 shares during the period. Institutional investors and hedge funds own 67.48% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MGTX shares. Chardan Capital reissued a "buy" rating and issued a $35.00 target price on shares of MeiraGTx in a research note on Friday. Wall Street Zen raised MeiraGTx from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th.

MeiraGTx Stock Down 1.9%

Shares of NASDAQ MGTX traded down $0.16 during mid-day trading on Friday, reaching $8.17. 717,859 shares of the company's stock were exchanged, compared to its average volume of 557,717. 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 capitalization of $656.54 million, a price-to-earnings ratio of -4.00 and a beta of 1.25. MeiraGTx Holdings PLC has a twelve month low of $3.85 and a twelve month high of $8.98. The business has a fifty day simple moving average of $7.58 and a 200 day simple moving average of $6.72.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.04. The business had revenue of $3.69 million during the quarter, compared to the consensus estimate of $8.00 million. MeiraGTx had a negative return on equity of 239.38% and a negative net margin of 415.39%. As a group, equities analysts expect that MeiraGTx Holdings PLC will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx 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 sale, the chief executive officer directly owned 1,361,483 shares of the company's stock, valued at approximately $10,851,019.51. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $8.52, for a total value of $204,480.00. Following the completion of the transaction, the chief financial officer directly owned 853,494 shares of the company's stock, valued at $7,271,768.88. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.50% of the stock is owned by company insiders.

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.