Worth Venture Partners LLC Invests $217,000 in MeiraGTx Holdings PLC $MGTX

Key Points

• Worth Venture Partners LLC invested $217,000 in MeiraGTx Holdings PLC by acquiring 31,986 shares, making it the firm's 25th largest position at approximately 0.4% of their portfolio.
• MeiraGTx reported a quarterly earnings loss of ($0.48) per share, exceeding analyst expectations, but fell short of revenue projections with $3.69 million against an $8.00 million estimate.
• Several hedge funds increased their stakes significantly in MeiraGTx, with notable increases from GAMMA Investing LLC and CWM LLC, showcasing growing institutional interest in the company.

Worth Venture Partners LLC purchased a new position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,986 shares of the company's stock, valued at approximately $217,000. MeiraGTx makes up approximately 0.4% of Worth Venture Partners LLC's investment portfolio, making the stock its 25th biggest position.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of 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 purchasing an additional 2,016 shares in the last quarter. GAMMA Investing LLC grew its stake in MeiraGTx by 3,606.7% during the 1st quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock worth $30,000 after purchasing an additional 4,328 shares in the last quarter. CWM LLC grew its stake in MeiraGTx by 1,737.7% during 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. ProShare Advisors LLC grew its stake in MeiraGTx by 41.2% during the 4th quarter. ProShare Advisors LLC now owns 16,814 shares of the company's stock worth $102,000 after purchasing an additional 4,910 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in MeiraGTx by 41.4% during 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 in the last quarter. Institutional investors and hedge funds own 67.48% of the company's stock.

MeiraGTx Stock Down 0.3%

MeiraGTx stock opened at $7.83 on Monday. MeiraGTx Holdings PLC has a 1-year low of $3.85 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 $629.92 million, a PE ratio of -3.84 and a beta of 1.25. The stock's fifty day moving average is $7.70 and its two-hundred day moving average is $6.76.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.48) earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $8.00 million. On average, 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 other MeiraGTx news, 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 in the company, valued at $10,851,019.51. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the company's stock in a transaction 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 owned 853,494 shares of the company's stock, valued at $7,271,768.88. This represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company's stock.

Analyst Upgrades and Downgrades

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

About MeiraGTx

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.

Want to see what other hedge funds are holding MGTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.