MeiraGTx Holdings PLC $MGTX Shares Acquired by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH increased its stake in MeiraGTx Holdings PLC by 17.9% during Q1, holding a total of 789,702 shares valued at approximately $5.37 million.
• Analysts have upgraded MeiraGTx's consensus rating to "Buy" with an average target price of $24.00, reflecting positive sentiment in the market.
• Insider transactions included CEO Alexandria Forbes selling 47,500 shares for $378,575, decreasing her ownership by 3.37%.

Erste Asset Management GmbH lifted its stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 17.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 789,702 shares of the company's stock after acquiring an additional 120,000 shares during the quarter. Erste Asset Management GmbH owned about 0.99% of MeiraGTx worth $5,366,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MGTX. Geode Capital Management LLC increased 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. Wells Fargo & Company MN increased its stake in shares of MeiraGTx by 58.6% during the fourth quarter. Wells Fargo & Company MN now owns 23,589 shares of the company's stock valued at $144,000 after acquiring an additional 8,714 shares during the period. Invesco Ltd. boosted its holdings in MeiraGTx by 59.6% during the fourth quarter. Invesco Ltd. now owns 20,270 shares of the company's stock worth $123,000 after buying an additional 7,569 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in MeiraGTx by 106.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock worth $30,000 after buying an additional 2,515 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in MeiraGTx by 69.5% during the fourth quarter. MetLife Investment Management LLC now owns 30,964 shares of the company's stock worth $189,000 after buying an additional 12,701 shares in the last quarter. Institutional investors and hedge funds own 67.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of MeiraGTx from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Chardan Capital restated a "buy" rating and set a $35.00 target price on shares of MeiraGTx in a report on Friday, August 15th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, MeiraGTx has a consensus rating of "Buy" and an average target price of $24.00.

Insider Buying and Selling

In related news, CEO Alexandria Forbes sold 47,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer 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 this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the firm's 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 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 position. The disclosure for this sale can be found here. Company insiders own 7.50% of the company's stock.

MeiraGTx Trading Down 0.3%

MeiraGTx stock opened at $7.56 on Thursday. The company has a 50 day moving average price of $7.65 and a 200 day moving average price of $6.74. MeiraGTx Holdings PLC has a 52 week low of $3.85 and a 52 week high of $8.98. The company has a debt-to-equity ratio of 26.29, a quick ratio of 1.51 and a current ratio of 0.88. The firm has a market capitalization of $608.20 million, a price-to-earnings ratio of -3.71 and a beta of 1.25.

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

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