Privium Fund Management B.V. Sells 108,078 Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX)

Key Points

• Privium Fund Management B.V. reduced its stake in MeiraGTx Holdings PLC by 48.0%, selling 108,078 shares and owning 117,000 shares by the end of the quarter.
• Several hedge funds increased their investments in MeiraGTx during the same period, with Readystate Asset Management LP and CWM LLC experiencing significant gains in share ownership.
• MeiraGTx reported a loss of ($0.51) EPS for the last quarter, missing analyst estimates, as its revenue fell short at $1.93 million compared to expectations of $4.44 million.

Privium Fund Management B.V. lessened its stake in MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 48.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,000 shares of the company's stock after selling 108,078 shares during the quarter. Privium Fund Management B.V. owned 0.15% of MeiraGTx worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MGTX. Readystate Asset Management LP grew its holdings in shares of MeiraGTx by 59.6% during the first quarter. Readystate Asset Management LP now owns 189,598 shares of the company's stock valued at $1,285,000 after buying an additional 70,768 shares during the last quarter. CWM LLC increased 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 worth $59,000 after purchasing an additional 8,202 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 worth $750,000 after purchasing an additional 3,985 shares in the last quarter. Acuitas Investments LLC purchased a new position in shares of MeiraGTx in the first quarter worth $286,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of 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 purchasing an additional 46,902 shares in the last quarter. Institutional investors own 67.48% of the company's stock.

MeiraGTx Stock Performance

Shares of NASDAQ MGTX traded up $0.20 during midday trading on Wednesday, hitting $7.94. 328,171 shares of the stock traded hands, compared to its average volume of 543,410. The firm has a market capitalization of $638.38 million, a P/E ratio of -3.42 and a beta of 1.25. MeiraGTx Holdings PLC has a one year low of $3.85 and a one year high of $8.98. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.51 and a current ratio of 1.53. The firm has a 50-day moving average of $7.17 and a two-hundred day moving average of $6.62.

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 analysts' consensus estimates of ($0.38) by ($0.13). The firm had revenue of $1.93 million during 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%. On average, equities analysts forecast that MeiraGTx Holdings PLC will post -1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MGTX has been the subject of several research analyst reports. Wall Street Zen upgraded MeiraGTx from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Chardan Capital reduced their price target 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.

Insider Activity

In other news, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx stock in a transaction 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 transaction, the chief executive officer owned 1,361,483 shares in the company, valued at $10,851,019.51. This trade represents a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $8.52, for a total value of $204,480.00. Following the completion of the sale, the chief financial officer owned 853,494 shares of the company's stock, valued at $7,271,768.88. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.50% of the stock is owned by corporate insiders.

MeiraGTx 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.