Readystate Asset Management LP increased its stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 59.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 189,598 shares of the company's stock after acquiring an additional 70,768 shares during the quarter. Readystate Asset Management LP owned about 0.24% of MeiraGTx worth $1,285,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MGTX. Summit Investment Advisors Inc. raised its stake in MeiraGTx by 106.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock valued at $30,000 after purchasing an additional 2,515 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of MeiraGTx by 68.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock valued at $30,000 after buying an additional 2,016 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 buying an additional 4,328 shares in the last quarter. CWM LLC boosted its holdings in shares of MeiraGTx by 1,737.7% in 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. Finally, Polymer Capital Management US LLC bought a new stake in shares of MeiraGTx in the 4th quarter valued at about $88,000. Institutional investors own 67.48% of the company's stock.
MeiraGTx Stock Performance
MGTX stock traded up $0.06 during trading on Friday, reaching $8.37. The company had a trading volume of 389,938 shares, compared to its average volume of 557,825. The firm has a 50-day simple moving average of $6.79 and a 200-day simple moving average of $6.53. The company has a market cap of $672.61 million, a price-to-earnings ratio of -3.61 and a beta of 1.24. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.51 and a current ratio of 1.53. 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 released its earnings results on Tuesday, May 13th. The company reported ($0.51) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.13). The company had revenue of $1.93 million during the quarter, compared to analyst estimates of $4.44 million. MeiraGTx had a negative return on equity of 241.05% and a negative net margin of 484.90%. As a group, sell-side analysts expect that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on MGTX. Wall Street Zen upgraded shares of MeiraGTx from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Chardan Capital lowered their target price on shares of MeiraGTx from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th.
Read Our Latest Stock Report on MeiraGTx
Insider Buying and Selling
In other MeiraGTx 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 transaction of $378,575.00. Following the completion of the transaction, the chief executive officer directly 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 filing with the SEC, which can be accessed through this link. 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.50% of the company's stock.
About MeiraGTx
(
Free Report)
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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