683 Capital Management LLC Trims Holdings in MeiraGTx Holdings plc (NASDAQ:MGTX)

683 Capital Management LLC reduced its stake in MeiraGTx Holdings plc (NASDAQ:MGTX - Free Report) by 5.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,415,000 shares of the company's stock after selling 135,000 shares during the quarter. MeiraGTx accounts for approximately 0.9% of 683 Capital Management LLC's portfolio, making the stock its 20th largest holding. 683 Capital Management LLC owned 3.09% of MeiraGTx worth $14,707,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its stake in MeiraGTx by 18.9% in the fourth quarter. Northern Trust Corp now owns 315,665 shares of the company's stock valued at $1,922,000 after purchasing an additional 50,267 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MeiraGTx by 41.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,976 shares of the company's stock valued at $110,000 after purchasing an additional 5,259 shares during the last quarter. Long Focus Capital Management LLC bought a new position in MeiraGTx during the fourth quarter worth about $1,156,000. Tower Research Capital LLC TRC increased its stake in shares of MeiraGTx by 68.1% in 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. Finally, MetLife Investment Management LLC raised its position in shares of MeiraGTx by 69.5% in the fourth quarter. MetLife Investment Management LLC now owns 30,964 shares of the company's stock valued at $189,000 after purchasing an additional 12,701 shares during the period. Institutional investors own 67.48% of the company's stock.

MeiraGTx Price Performance

MGTX stock traded down $0.28 during midday trading on Wednesday, reaching $5.59. The company had a trading volume of 332,521 shares, compared to its average volume of 338,210. The firm has a 50-day moving average price of $6.50 and a 200-day moving average price of $6.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market capitalization of $446.93 million, a P/E ratio of -4.62, a P/E/G ratio of 0.37 and a beta of 1.30. MeiraGTx Holdings plc has a 1 year low of $3.85 and a 1 year high of $8.75.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.02). The firm had revenue of $21.39 million during the quarter, compared to analysts' expectations of $1.50 million. MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. On average, research analysts anticipate that MeiraGTx Holdings plc will post -1.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Alexandria Forbes sold 47,500 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total transaction of $253,650.00. Following the completion of the sale, the chief executive officer now owns 1,408,983 shares of the company's stock, valued at approximately $7,523,969.22. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $6.00, for a total transaction of $144,000.00. Following the completion of the transaction, the chief financial officer now owns 882,494 shares in the company, valued at $5,294,964. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.40% of the company's stock.

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.