Russell Investments Group Ltd. Has $1.05 Million Stake in MeiraGTx Holdings PLC $MGTX

Key Points

• Russell Investments Group Ltd. has decreased its stake in MeiraGTx Holdings PLC by 45%, owning approximately $1.05 million worth of shares as of the latest SEC filing.
• Major institutional investments include Sanofi's acquisition of $74.28 million and Invesco's acquisition which increased holdings by 1,628.7% in the first quarter.
• MeiraGTx reported an earnings per share of ($0.48) for the last quarter, exceeding analysts' expectations while showing substantial negative returns on equity.

Russell Investments Group Ltd. lowered its stake in MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 45.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,152 shares of the company's stock after selling 127,154 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.19% of MeiraGTx worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Sanofi purchased a new position in MeiraGTx in the 4th quarter worth about $74,284,000. Woodline Partners LP purchased a new position in MeiraGTx in the 4th quarter worth about $9,349,000. Invesco Ltd. increased its stake in MeiraGTx by 1,628.7% in the 1st quarter. Invesco Ltd. now owns 350,401 shares of the company's stock worth $2,376,000 after purchasing an additional 330,131 shares in the last quarter. Northern Trust Corp increased its stake in MeiraGTx by 18.9% in the 4th quarter. Northern Trust Corp now owns 315,665 shares of the company's stock worth $1,922,000 after purchasing an additional 50,267 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in MeiraGTx by 43.2% during the 4th quarter. Nuveen Asset Management LLC now owns 191,311 shares of the company's stock valued at $1,165,000 after acquiring an additional 57,737 shares in the last quarter. Hedge funds and other institutional investors own 67.48% of the company's stock.

MeiraGTx Stock Performance

MGTX traded up $0.03 on Wednesday, hitting $7.33. The company had a trading volume of 249,378 shares, compared to its average volume of 301,005. The company's fifty day moving average price is $7.85 and its 200 day moving average price is $6.80. MeiraGTx Holdings PLC has a 1-year low of $3.86 and a 1-year high of $8.98. The company has a debt-to-equity ratio of 26.29, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $589.70 million, a price-to-earnings ratio of -3.59 and a beta of 1.29.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.04. MeiraGTx had a negative return on equity of 314.44% and a negative net margin of 415.39%.The firm had revenue of $3.69 million during the quarter, compared to analyst estimates of $8.00 million. Equities analysts predict that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on MGTX. Wall Street Zen raised MeiraGTx from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Chardan Capital reaffirmed a "buy" rating and set a $35.00 target price on shares of MeiraGTx in a research note on Friday, August 15th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $24.00.

Insider Buying and Selling

In other news, CFO Richard Giroux sold 24,000 shares of the company'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 completion of the transaction, the chief financial officer directly owned 853,494 shares in the company, valued at $7,271,768.88. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a 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 on Tuesday, July 8th. The shares were sold at an average price of $7.97, for a total value 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 $10,851,019.51. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.50% of the stock is owned by 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.