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 acquired a new position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,986 shares of the company's stock, valued at approximately $217,000. MeiraGTx accounts for about 0.4% of Worth Venture Partners LLC's holdings, making the stock its 25th biggest position.

Several other large investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of MeiraGTx by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 151,126 shares of the company's stock worth $920,000 after buying an additional 1,379 shares during the period. Tower Research Capital LLC TRC grew its position in shares of MeiraGTx by 68.1% during the 4th 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 during the period. Rhumbline Advisers grew its position in shares of MeiraGTx by 6.1% during the 1st quarter. Rhumbline Advisers now owns 58,227 shares of the company's stock worth $395,000 after buying an additional 3,336 shares during the period. Bank of New York Mellon Corp grew its position in MeiraGTx by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 110,567 shares of the company's stock valued at $750,000 after purchasing an additional 3,985 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in MeiraGTx by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 116,027 shares of the company's stock valued at $787,000 after purchasing an additional 4,006 shares during the period. Institutional investors and hedge funds own 67.48% of the company's stock.

MeiraGTx Stock Down 2.5%

MGTX traded down $0.19 during mid-day trading on Friday, reaching $7.30. 242,016 shares of the stock were exchanged, compared to its average volume of 335,274. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $587.29 million, a PE ratio of -3.58 and a beta of 1.25. The company has a 50 day moving average price of $7.80 and a two-hundred day moving average price of $6.79. MeiraGTx Holdings PLC has a 1 year low of $3.85 and a 1 year high of $8.98.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted 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%. As a group, research analysts anticipate that MeiraGTx Holdings PLC will post -1.48 EPS for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other MeiraGTx 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 directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction 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 transaction, the chief financial officer directly owned 853,494 shares in the company, valued at $7,271,768.88. This 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 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.