Long Focus Capital Management LLC Buys 60,000 Shares of MeiraGTx Holdings PLC $MGTX

Key Points

• Long Focus Capital Management LLC increased its stake in MeiraGTx Holdings PLC by 31.6%, now owning approximately 0.31% of the company with a total value of $1.69 million.
• MeiraGTx recently reported a negative EPS of ($0.48), slightly better than the consensus estimate of ($0.52), but revenues fell short of expectations at $3.69 million.
• According to analyst ratings, MeiraGTx has a consensus rating of "Buy" and an average target price of $24.00, suggesting bullish sentiment among analysts.

Long Focus Capital Management LLC raised its position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 31.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 249,745 shares of the company's stock after buying an additional 60,000 shares during the quarter. Long Focus Capital Management LLC owned 0.31% of MeiraGTx worth $1,693,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Northern Trust Corp lifted its position in shares of MeiraGTx by 18.9% in the fourth quarter. Northern Trust Corp now owns 315,665 shares of the company's stock worth $1,922,000 after purchasing an additional 50,267 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of MeiraGTx by 43.2% in the fourth quarter. Nuveen Asset Management LLC now owns 191,311 shares of the company's stock worth $1,165,000 after purchasing an additional 57,737 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of MeiraGTx by 23.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,275 shares of the company's stock worth $160,000 after purchasing an additional 5,010 shares in the last quarter. Deutsche Bank AG lifted its position in shares of MeiraGTx by 45.1% in the fourth quarter. Deutsche Bank AG now owns 42,198 shares of the company's stock worth $257,000 after purchasing an additional 13,111 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position 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 worth $30,000 after purchasing an additional 4,328 shares in the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at MeiraGTx

In related news, CFO Richard Giroux sold 24,000 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was 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 trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $7.97, for a total value of $378,575.00. Following the transaction, the chief executive officer directly owned 1,361,483 shares of the company's stock, valued at approximately $10,851,019.51. The trade was a 3.37% 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 Stock Performance

Shares of MeiraGTx stock traded up $0.16 during midday trading on Thursday, hitting $7.49. The company had a trading volume of 111,952 shares, compared to its average volume of 514,953. The stock has a market cap of $602.57 million, a PE ratio of -3.67 and a beta of 1.29. MeiraGTx Holdings PLC has a 1-year low of $3.86 and a 1-year high of $8.98. The business's 50 day simple moving average is $7.85 and its two-hundred day simple moving average is $6.80. The company has a debt-to-equity ratio of 26.29, a current ratio of 0.88 and a quick ratio of 0.88.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.04. The firm 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%. As a group, equities analysts predict that MeiraGTx Holdings PLC will post -1.48 EPS for the current fiscal year.

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.