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. cut its holdings in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 24.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,086 shares of the company's stock after selling 65,267 shares during the period. Goldman Sachs Group Inc. owned 0.25% of MeiraGTx worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in MeiraGTx by 18.9% during the 4th quarter. Northern Trust Corp now owns 315,665 shares of the company's stock valued at $1,922,000 after purchasing an additional 50,267 shares during the period. Nuveen Asset Management LLC raised its position in shares of MeiraGTx by 43.2% in the 4th quarter. Nuveen Asset Management LLC now owns 191,311 shares of the company's stock valued at $1,165,000 after acquiring an additional 57,737 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MeiraGTx by 23.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,275 shares of the company's stock valued at $160,000 after acquiring an additional 5,010 shares during the period. Deutsche Bank AG raised its position in shares of MeiraGTx by 45.1% in the 4th quarter. Deutsche Bank AG now owns 42,198 shares of the company's stock valued at $257,000 after acquiring an additional 13,111 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of MeiraGTx by 3,606.7% in the 1st quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock valued at $30,000 after acquiring an additional 4,328 shares during the period. 67.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MGTX. Chardan Capital reiterated a "buy" rating and issued a $35.00 price target on shares of MeiraGTx in a research report on Friday, August 15th. Wall Street Zen upgraded shares of 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 data from MarketBeat.com, MeiraGTx has a consensus rating of "Buy" and an average price target of $24.00.

Insider Activity at MeiraGTx

In other news, CFO Richard Giroux sold 24,000 shares of the firm's stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alexandria Forbes sold 47,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $7.97, for a total transaction of $378,575.00. Following the transaction, 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 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 Up 1.1%

NASDAQ MGTX traded up $0.09 during trading hours on Tuesday, reaching $8.18. 137,081 shares of the company's stock were exchanged, compared to its average volume of 503,823. The company's 50-day moving average is $7.86 and its two-hundred day moving average is $6.87. MeiraGTx Holdings PLC has a one year low of $3.94 and a one year high of $8.98. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $658.08 million, a price-to-earnings ratio of -4.01 and a beta of 1.29.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.04. The business 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, analysts forecast 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.