Janney Montgomery Scott LLC Raises Stock Holdings in MeiraGTx Holdings PLC (NASDAQ:MGTX)

Janney Montgomery Scott LLC lifted its stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 62.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,220 shares of the company's stock after buying an additional 46,902 shares during the period. Janney Montgomery Scott LLC owned about 0.15% of MeiraGTx worth $829,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of MeiraGTx by 13.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 112,021 shares of the company's stock valued at $682,000 after acquiring an additional 12,961 shares during the last quarter. Northern Trust Corp increased its position in shares of 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 last quarter. Geode Capital Management LLC raised its stake in shares of MeiraGTx by 16.4% during the 4th quarter. Geode Capital Management LLC now owns 570,646 shares of the company's stock worth $3,475,000 after purchasing an additional 80,407 shares during the period. Nuveen Asset Management LLC boosted its holdings 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 worth $1,165,000 after buying an additional 57,737 shares during the last quarter. Finally, Rhumbline Advisers grew its position in MeiraGTx by 12.3% during the fourth quarter. Rhumbline Advisers now owns 54,891 shares of the company's stock valued at $334,000 after buying an additional 5,993 shares during the period. Institutional investors own 67.48% of the company's stock.

MeiraGTx Stock Performance

MeiraGTx stock traded up $0.59 during midday trading on Friday, reaching $7.51. The stock had a trading volume of 448,022 shares, compared to its average volume of 390,255. The firm has a market capitalization of $603.10 million, a PE ratio of -3.23 and a beta of 1.24. MeiraGTx Holdings PLC has a 12 month low of $3.85 and a 12 month high of $8.75. The company has a quick ratio of 1.51, a current ratio of 1.53 and a debt-to-equity ratio of 2.34. The firm's 50-day moving average price is $6.02 and its 200 day moving average price is $6.28.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.13). MeiraGTx had a negative return on equity of 241.05% and a negative net margin of 484.90%. The business had revenue of $1.93 million during the quarter, compared to the consensus estimate of $4.44 million. As a group, research analysts predict that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Richard Giroux sold 24,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $6.00, for a total value of $144,000.00. Following the completion of the transaction, the chief financial officer directly owned 882,494 shares in the company, valued at approximately $5,294,964. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alexandria Forbes sold 47,500 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total transaction of $253,650.00. Following the sale, the chief executive officer directly owned 1,408,983 shares in the company, valued at $7,523,969.22. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. 7.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MGTX. Wall Street Zen cut shares of MeiraGTx from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Chardan Capital lowered their price target on shares of MeiraGTx from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada increased their price objective on MeiraGTx from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Monday, March 17th.

MeiraGTx Company Profile

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.