Readystate Asset Management LP Buys 70,768 Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX)

Readystate Asset Management LP raised its position in MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 59.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,598 shares of the company's stock after purchasing an additional 70,768 shares during the quarter. Readystate Asset Management LP owned approximately 0.24% of MeiraGTx worth $1,285,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew its stake in MeiraGTx by 1,737.7% in the first quarter. CWM LLC now owns 8,674 shares of the company's stock valued at $59,000 after purchasing an additional 8,202 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of MeiraGTx by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 110,567 shares of the company's stock valued at $750,000 after purchasing an additional 3,985 shares during the last quarter. Acuitas Investments LLC acquired a new stake in shares of MeiraGTx in the 1st quarter valued at $286,000. Janney Montgomery Scott LLC raised its holdings in MeiraGTx by 62.3% during the first quarter. Janney Montgomery Scott LLC now owns 122,220 shares of the company's stock valued at $829,000 after buying an additional 46,902 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in MeiraGTx by 6.1% during the first quarter. Rhumbline Advisers now owns 58,227 shares of the company's stock valued at $395,000 after buying an additional 3,336 shares in the last quarter. Hedge funds and other institutional investors own 67.48% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MGTX shares. Wall Street Zen upgraded MeiraGTx from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Chardan Capital cut their target price on MeiraGTx from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th.

Insider Activity

In related news, CEO Alexandria Forbes sold 47,500 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $8.52, for a total value 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 position. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by insiders.

MeiraGTx Stock Up 0.7%

NASDAQ MGTX traded up $0.06 during trading on Friday, hitting $8.37. 389,938 shares of the company traded hands, compared to its average volume of 557,825. MeiraGTx Holdings PLC has a 12 month low of $3.85 and a 12 month high of $8.98. The business has a fifty day simple moving average of $6.79 and a 200 day simple moving average of $6.53. The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $672.61 million, a P/E ratio of -3.61 and a beta of 1.24.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.13). The company had revenue of $1.93 million for the quarter, compared to the consensus estimate of $4.44 million. MeiraGTx had a negative net margin of 484.90% and a negative return on equity of 241.05%. As a group, sell-side analysts predict 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.