Millennium Management LLC Sells 41,707 Shares of MeiraGTx Holdings plc (NASDAQ:MGTX)

Millennium Management LLC lessened its holdings in shares of MeiraGTx Holdings plc (NASDAQ:MGTX - Free Report) by 46.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,855 shares of the company's stock after selling 41,707 shares during the period. Millennium Management LLC owned about 0.06% of MeiraGTx worth $298,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGTX. Summit Investment Advisors Inc. increased its stake in shares of 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 buying an additional 2,515 shares during the period. Tower Research Capital LLC TRC increased its position in MeiraGTx by 68.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock valued at $30,000 after purchasing an additional 2,016 shares during the period. Polymer Capital Management US LLC bought a new position in MeiraGTx in the 4th quarter worth $88,000. Price T Rowe Associates Inc. MD lifted its position in shares of MeiraGTx by 41.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,976 shares of the company's stock worth $110,000 after purchasing an additional 5,259 shares during the period. Finally, PUREfi Wealth LLC bought a new stake in shares of MeiraGTx during the 4th quarter valued at about $122,000. 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 that occurred on Tuesday, April 22nd. The shares were sold at an average price of $6.00, for a total transaction of $144,000.00. Following the completion of the sale, the chief financial officer now owns 882,494 shares of the company's stock, valued at $5,294,964. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alexandria Forbes sold 47,500 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $5.34, for a total value of $253,650.00. Following the sale, the chief executive officer now owns 1,408,983 shares in the company, valued at approximately $7,523,969.22. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by insiders.

MeiraGTx Stock Up 0.6%

NASDAQ MGTX traded up $0.04 during trading hours on Friday, reaching $6.63. 486,432 shares of the company's stock traded hands, compared to its average volume of 380,711. MeiraGTx Holdings plc has a 52-week low of $3.85 and a 52-week high of $8.75. The firm has a 50-day simple moving average of $5.74 and a 200 day simple moving average of $6.25. The firm has a market cap of $532.82 million, a PE ratio of -5.48, a PEG ratio of 0.37 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its quarterly 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). MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. The company had revenue of $1.93 million during the quarter, compared to analysts' expectations of $4.44 million. Sell-side analysts anticipate that MeiraGTx Holdings plc will post -1.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on MGTX. Royal Bank of Canada increased their price target on shares of MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a research note on Monday, March 17th. Chardan Capital reduced 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. Finally, Wall Street Zen cut MeiraGTx from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

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.