Goldman Sachs Group Inc. Sells 65,267 Shares of MeiraGTx Holdings PLC $MGTX

Key Points

• Goldman Sachs Group Inc. has reduced its stake in MeiraGTx Holdings PLC by 24.3%, now owning 203,086 shares valued at approximately $1.38 million.
• MeiraGTx reported a quarterly earnings loss of ($0.48) per share, exceeding analysts' expectations, but with revenue of only $3.69 million compared to the anticipated $8.00 million.
• Recent analyst ratings include a upgrade to a "hold" from a "sell" by Wall Street Zen and a target price of $35.00 set by Chardan Capital.

Goldman Sachs Group Inc. lessened its stake in MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 24.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 203,086 shares of the company's stock after selling 65,267 shares during the period. Goldman Sachs Group Inc. owned about 0.25% of MeiraGTx worth $1,377,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in MeiraGTx by 3,606.7% during the first quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock valued at $30,000 after purchasing an additional 4,328 shares during the last quarter. CWM LLC raised its position in shares of MeiraGTx by 1,737.7% during the 1st quarter. CWM LLC now owns 8,674 shares of the company's stock valued at $59,000 after buying an additional 8,202 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of MeiraGTx in the 1st quarter worth about $83,000. ProShare Advisors LLC raised its position in MeiraGTx by 41.2% in 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 period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in MeiraGTx by 23.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,275 shares of the company's stock valued at $160,000 after purchasing an additional 5,010 shares during the last quarter. Institutional investors own 67.48% of the company's stock.

Insider Activity 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 shares were sold at an average price of $8.52, for a total transaction of $204,480.00. Following the sale, the chief financial officer directly owned 853,494 shares in the company, 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 legal filing with the SEC, which is available at 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 transaction of $378,575.00. Following the completion of the sale, the chief executive officer owned 1,361,483 shares in the company, valued at $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. Company insiders own 7.50% of the company's stock.

MeiraGTx Stock Performance

Shares of MGTX stock traded down $0.43 on Friday, hitting $7.56. 487,900 shares of the stock traded hands, compared to its average volume of 296,846. The company has a debt-to-equity ratio of 26.29, a current ratio of 0.88 and a quick ratio of 0.88. The company's fifty day moving average is $7.88 and its 200 day moving average is $6.86. The company has a market capitalization of $608.20 million, a PE ratio of -3.71 and a beta of 1.29. MeiraGTx Holdings PLC has a 1-year low of $3.94 and a 1-year high of $8.98.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.48) earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $3.69 million during the quarter, compared to the consensus estimate of $8.00 million. On average, equities research analysts predict that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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