Adage Capital Partners GP L.L.C. Has $38.20 Million Stock Holdings in MeiraGTx Holdings PLC $MGTX

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in MeiraGTx Holdings PLC by 11.9%, owning approximately 7.05% of the company worth $38.20 million after acquiring an additional 600,000 shares in the 1st quarter.
• MeiraGTx recently received updates from analysts, with Wall Street Zen elevating its rating from "sell" to "hold" and Chardan Capital maintaining a "buy" rating with a target price set at $35.00.
• MeiraGTx posted a quarterly earnings loss of ($0.48) per share, exceeding expectations by $0.04, though revenue fell short at $3.69 million against a consensus estimate of $8.00 million.

Adage Capital Partners GP L.L.C. lifted its holdings in MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 11.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,634,578 shares of the company's stock after buying an additional 600,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 7.05% of MeiraGTx worth $38,202,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of MeiraGTx by 68.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock valued at $30,000 after buying an additional 2,016 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of MeiraGTx by 3,606.7% in the first quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock valued at $30,000 after buying an additional 4,328 shares during the last quarter. CWM LLC raised its holdings in MeiraGTx by 1,737.7% during 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 during the last quarter. Ieq Capital LLC bought a new stake in MeiraGTx during the 1st quarter worth about $83,000. Finally, ProShare Advisors LLC raised its holdings in MeiraGTx by 41.2% during the 4th 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 institutional investors.

MeiraGTx Trading Down 0.5%

Shares of MGTX stock traded down $0.04 on Tuesday, reaching $7.44. The company had a trading volume of 76,061 shares, compared to its average volume of 512,275. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 26.29. The stock has a market cap of $598.15 million, a PE ratio of -3.62 and a beta of 1.29. The company has a 50-day moving average of $7.91 and a 200-day moving average of $6.82. MeiraGTx Holdings PLC has a 12 month low of $3.86 and a 12 month high of $8.98.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.48) EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.04. The company had revenue of $3.69 million during the quarter, compared to analysts' expectations of $8.00 million. MeiraGTx had a negative return on equity of 314.44% and a negative net margin of 415.39%. On average, equities analysts forecast that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current year.

Insider Transactions at MeiraGTx

In other news, CEO Alexandria Forbes sold 47,500 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $7.97, for a total value 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 $10,851,019.51. This represents a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $204,480.00. Following the completion of the sale, the chief financial officer directly owned 853,494 shares of the company's stock, valued at approximately $7,271,768.88. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MGTX shares. Chardan Capital reissued a "buy" rating and set a $35.00 price objective on shares of MeiraGTx in a report on Friday, August 15th. Wall Street Zen raised MeiraGTx from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $24.00.

About MeiraGTx

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.