Wellington Management Group LLP Buys 55,854 Shares of MeiraGTx Holdings PLC $MGTX

Key Points

• Wellington Management Group LLP has increased its holdings in MeiraGTx Holdings PLC by 37% during the 1st quarter, now owning approximately 0.26% of the company, valued at $1.4 million.
• MeiraGTx stock recently experienced a 2.5% decline, opening at $7.30, and has an average target price of $24.00 based on analyst ratings.
• CEO Alexandria Forbes and CFO Richard Giroux both sold portions of their stock recently, indicating a 3.37% and 2.74% decrease in their respective positions.

Wellington Management Group LLP boosted its stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 37.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,980 shares of the company's stock after purchasing an additional 55,854 shares during the quarter. Wellington Management Group LLP owned about 0.26% of MeiraGTx worth $1,403,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sanofi acquired a new stake in shares of MeiraGTx during the 4th quarter worth about $74,284,000. Woodline Partners LP acquired a new stake in MeiraGTx during the fourth quarter worth approximately $9,349,000. Invesco Ltd. boosted its holdings in shares of MeiraGTx by 1,628.7% during the first quarter. Invesco Ltd. now owns 350,401 shares of the company's stock worth $2,376,000 after acquiring an additional 330,131 shares during the period. Nuveen LLC bought a new stake in shares of MeiraGTx during the first quarter worth approximately $1,012,000. Finally, Informed Momentum Co LLC acquired a new position in shares of MeiraGTx in the first quarter valued at approximately $563,000. 67.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Alexandria Forbes sold 47,500 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $7.97, for a total value of $378,575.00. Following the sale, 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. Company insiders own 7.50% of the company's stock.

MeiraGTx Price Performance

Shares of MGTX traded up $0.29 during trading hours on Thursday, hitting $7.62. 158,943 shares of the company were exchanged, compared to its average volume of 515,196. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 26.29. MeiraGTx Holdings PLC has a fifty-two week low of $3.86 and a fifty-two week high of $8.98. The company has a market cap of $612.95 million, a price-to-earnings ratio of -3.73 and a beta of 1.29. The firm's fifty day moving average is $7.85 and its 200 day moving average is $6.80.

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

Analysts Set New Price Targets

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

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.