Geode Capital Management LLC Has $3.48 Million Stock Holdings in MeiraGTx Holdings plc (NASDAQ:MGTX)

Geode Capital Management LLC raised its stake in shares of MeiraGTx Holdings plc (NASDAQ:MGTX - Free Report) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 570,646 shares of the company's stock after buying an additional 80,407 shares during the period. Geode Capital Management LLC owned about 0.73% of MeiraGTx worth $3,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new position in MeiraGTx in the fourth quarter valued at about $459,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of MeiraGTx by 13.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 112,021 shares of the company's stock valued at $682,000 after buying an additional 12,961 shares during the last quarter. Barclays PLC grew its stake in shares of MeiraGTx by 107.1% in the 3rd quarter. Barclays PLC now owns 147,827 shares of the company's stock valued at $618,000 after buying an additional 76,437 shares in the last quarter. State Street Corp increased its holdings in MeiraGTx by 0.9% in the third quarter. State Street Corp now owns 574,727 shares of the company's stock worth $2,397,000 after buying an additional 5,251 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC bought a new position in shares of MeiraGTx during the 3rd quarter valued at $1,636,000. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

MeiraGTx Price Performance

NASDAQ:MGTX traded up $0.19 during mid-day trading on Friday, hitting $7.45. The company's stock had a trading volume of 39,452 shares, compared to its average volume of 326,894. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86. The stock has a fifty day moving average of $6.53 and a 200-day moving average of $6.36. The company has a market capitalization of $587.47 million, a price-to-earnings ratio of -6.17, a P/E/G ratio of 0.37 and a beta of 1.21. MeiraGTx Holdings plc has a fifty-two week low of $3.85 and a fifty-two week high of $8.75.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.02). MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. The company had revenue of $21.39 million for the quarter, compared to the consensus estimate of $1.50 million. As a group, equities analysts forecast that MeiraGTx Holdings plc will post -1.48 EPS for the current fiscal year.

Insider Activity

In other news, CEO Alexandria Forbes sold 47,500 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total value of $253,650.00. Following the transaction, the chief executive officer now directly owns 1,408,983 shares of the company's stock, valued at $7,523,969.22. The trade was a 3.26 % decrease in their position. The sale 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 the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $6.00, for a total value of $144,000.00. Following the sale, the chief financial officer now owns 882,494 shares in the company, valued at approximately $5,294,964. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on MGTX shares. Chardan Capital reissued a "buy" rating and set a $36.00 price objective on shares of MeiraGTx in a report on Monday, February 24th. Royal Bank of Canada increased their price target on shares of MeiraGTx from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Monday, March 17th.

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.