150,000 Shares in MeiraGTx Holdings PLC $MGTX Acquired by Affinity Asset Advisors LLC

Key Points

• Affinity Asset Advisors LLC has acquired 150,000 shares of MeiraGTx Holdings PLC valued at approximately $1,017,000, representing 0.19% of the company, according to a recent 13F filing.
• CEO Alexandria Forbes and CFO Richard Giroux have both sold shares, decreasing their holdings by 3.37% and 2.74% respectively, while a significant portion of the stock, about 67.48%, is owned by institutional investors.
• Analysts have upgraded MeiraGTx's rating, with Wall Street Zen moving from a "sell" to a "hold" and Chardan Capital issuing a "buy" rating with a price target of $35.00.

Affinity Asset Advisors LLC acquired a new stake in MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 150,000 shares of the company's stock, valued at approximately $1,017,000. Affinity Asset Advisors LLC owned approximately 0.19% of MeiraGTx as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Worth Venture Partners LLC bought a new position in shares of MeiraGTx in the 1st quarter valued at approximately $217,000. Jump Financial LLC bought a new position in shares of MeiraGTx in the 1st quarter valued at approximately $230,000. Erste Asset Management GmbH raised its stake in shares of MeiraGTx by 17.9% in the 1st quarter. Erste Asset Management GmbH now owns 789,702 shares of the company's stock valued at $5,366,000 after acquiring an additional 120,000 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of MeiraGTx by 37.0% in the 1st quarter. Wellington Management Group LLP now owns 206,980 shares of the company's stock valued at $1,403,000 after acquiring an additional 55,854 shares in the last quarter. Finally, Informed Momentum Co LLC bought a new position in shares of MeiraGTx in the 1st quarter valued at approximately $563,000. 67.48% of the stock is owned by institutional investors.

Insider Activity at MeiraGTx

In other news, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $8.52, for a total transaction of $204,480.00. Following the sale, the chief financial officer 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $378,575.00. Following the sale, the chief executive officer directly owned 1,361,483 shares in the company, valued at $10,851,019.51. The trade was a 3.37% decrease in their position. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MGTX has been the topic of a number of recent analyst reports. Wall Street Zen raised MeiraGTx from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Chardan Capital reaffirmed a "buy" rating and issued a $35.00 target price on shares of MeiraGTx in a report on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $24.00.

MeiraGTx Stock Performance

MGTX traded down $0.19 during midday trading on Friday, reaching $7.30. The company's stock had a trading volume of 242,016 shares, compared to its average volume of 335,274. The stock has a market cap of $587.29 million, a P/E ratio of -3.58 and a beta of 1.25. The company has a fifty day simple moving average of $7.80 and a 200 day simple moving average of $6.79. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 26.29. MeiraGTx Holdings PLC has a twelve month low of $3.85 and a twelve month high of $8.98.

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

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.