Woodline Partners LP Has $5.45 Million Position in MeiraGTx Holdings PLC $MGTX

Key Points

• Woodline Partners LP has reduced its stake in MeiraGTx Holdings PLC by 47.7%, holding 803,546 shares valued at approximately $5.45 million after selling 731,578 shares in the first quarter.
• Despite a negative EPS of ($0.48) for the last quarter, MeiraGTx beat consensus estimates by $0.04, but reported a revenue of $3.69 million, significantly below the expected $8.00 million.
• Analyst ratings for MeiraGTx have varied, with some upgrading it to a "hold" while others maintain a "buy" rating, setting a target price of $35.00 on shares.

Woodline Partners LP lowered its stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 47.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 803,546 shares of the company's stock after selling 731,578 shares during the quarter. Woodline Partners LP owned about 1.01% of MeiraGTx worth $5,448,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MGTX. GAMMA Investing LLC grew its position in MeiraGTx by 3,606.7% during the first quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock worth $30,000 after buying an additional 4,328 shares in the last quarter. Tower Research Capital LLC TRC grew its position in MeiraGTx by 68.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock worth $30,000 after buying an additional 2,016 shares in the last quarter. CWM LLC grew its position in MeiraGTx by 1,737.7% during the first quarter. CWM LLC now owns 8,674 shares of the company's stock worth $59,000 after buying an additional 8,202 shares in the last quarter. Ieq Capital LLC acquired a new stake in MeiraGTx during the first quarter worth approximately $83,000. Finally, ProShare Advisors LLC grew its position in MeiraGTx by 41.2% during the fourth quarter. ProShare Advisors LLC now owns 16,814 shares of the company's stock worth $102,000 after buying an additional 4,910 shares in the last quarter. Institutional investors and hedge funds own 67.48% of the company's stock.

MeiraGTx Trading Down 0.8%

NASDAQ MGTX opened at $7.61 on Friday. 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 twelve month low of $3.94 and a twelve month high of $8.98. The company has a market cap of $612.20 million, a price-to-earnings ratio of -3.73 and a beta of 1.29. The business's fifty day moving average is $7.95 and its 200 day moving average is $6.84.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.48) earnings per share for the quarter, beating 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 company had revenue of $3.69 million for the quarter, compared to the consensus estimate of $8.00 million. As a group, sell-side analysts expect that MeiraGTx Holdings PLC will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at MeiraGTx

In related news, CEO Alexandria Forbes sold 47,500 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $7.97, for a total transaction 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. This trade represents a 3.37% decrease in their position. The transaction 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 firm's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $8.52, for a total value of $204,480.00. Following the sale, the chief financial officer directly owned 853,494 shares in the company, valued at approximately $7,271,768.88. This trade represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen raised MeiraGTx from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Chardan Capital reaffirmed a "buy" rating and issued a $35.00 target price on shares of MeiraGTx in a report on Friday, August 15th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, MeiraGTx currently has a consensus rating of "Buy" and an average price target of $24.00.

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.

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