Prosight Management LP Lowers Position in MeiraGTx Holdings plc (NASDAQ:MGTX)

Prosight Management LP lowered its position in shares of MeiraGTx Holdings plc (NASDAQ:MGTX - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,390,837 shares of the company's stock after selling 509,733 shares during the period. MeiraGTx accounts for approximately 7.4% of Prosight Management LP's portfolio, making the stock its 4th largest position. Prosight Management LP owned 5.62% of MeiraGTx worth $26,740,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MGTX. Nuveen Asset Management LLC increased its position in MeiraGTx by 43.2% during the 4th quarter. Nuveen Asset Management LLC now owns 191,311 shares of the company's stock worth $1,165,000 after purchasing an additional 57,737 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of MeiraGTx by 23.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,275 shares of the company's stock worth $160,000 after purchasing an additional 5,010 shares during the period. Deutsche Bank AG grew its stake in shares of MeiraGTx by 45.1% during the 4th quarter. Deutsche Bank AG now owns 42,198 shares of the company's stock worth $257,000 after purchasing an additional 13,111 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of MeiraGTx by 41.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 123,643 shares of the company's stock valued at $753,000 after purchasing an additional 36,008 shares in the last quarter. Finally, Bank of America Corp DE grew its position in MeiraGTx by 16.4% during the fourth quarter. Bank of America Corp DE now owns 63,892 shares of the company's stock worth $389,000 after buying an additional 9,007 shares during the period. Hedge funds and other institutional investors own 67.48% of the company's stock.

Wall Street Analyst Weigh In

MGTX has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on MeiraGTx from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Monday, March 17th. Chardan Capital dropped their price target on shares of MeiraGTx from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th.

MeiraGTx Stock Performance

MGTX traded up $0.17 during trading hours on Tuesday, hitting $5.32. 159,251 shares of the stock were exchanged, compared to its average volume of 359,010. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34. MeiraGTx Holdings plc has a 12 month low of $3.85 and a 12 month high of $8.75. The stock has a 50-day simple moving average of $6.27 and a 200-day simple moving average of $6.34. The stock has a market cap of $427.14 million, a price-to-earnings ratio of -4.38, a price-to-earnings-growth ratio of 0.37 and a beta of 1.30.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.13). MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. The firm had revenue of $1.93 million during the quarter, compared to analyst estimates of $4.44 million. Analysts anticipate that MeiraGTx Holdings plc will post -1.48 earnings per share for the current year.

Insider Transactions at MeiraGTx

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $6.00, for a total value of $144,000.00. Following the transaction, the chief financial officer now owns 882,494 shares in the company, valued at $5,294,964. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alexandria Forbes sold 47,500 shares of the firm's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $5.34, for a total value of $253,650.00. Following the transaction, the chief executive officer now owns 1,408,983 shares in the company, valued at approximately $7,523,969.22. This trade represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.50% 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.