MeiraGTx Holdings plc (NASDAQ:MGTX) Shares Sold by Prosight Management LP

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

A number of other large investors have also added to or reduced their stakes in the stock. Nuveen Asset Management LLC lifted its stake in MeiraGTx by 43.2% during the fourth 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in MeiraGTx by 23.6% during the fourth 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 last quarter. Deutsche Bank AG lifted its stake in MeiraGTx by 45.1% during the fourth 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 last quarter. D. E. Shaw & Co. Inc. lifted its stake in MeiraGTx by 41.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 123,643 shares of the company's stock worth $753,000 after purchasing an additional 36,008 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake 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 purchasing an additional 9,007 shares during the last quarter. Institutional investors and hedge funds own 67.48% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on MGTX. Chardan Capital cut their target price on MeiraGTx from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday. Royal Bank of Canada upped their target price on MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a research note on Monday, March 17th.

Insider Activity

In related news, CFO Richard Giroux sold 24,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 882,494 shares in the company, valued at $5,294,964. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alexandria Forbes sold 47,500 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $5.34, for a total value 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 $7,523,969.22. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.50% of the stock is owned by corporate insiders.

MeiraGTx Price Performance

Shares of MGTX traded down $0.05 during trading hours on Friday, reaching $4.99. The stock had a trading volume of 588,943 shares, compared to its average volume of 359,355. MeiraGTx Holdings plc has a 12 month low of $3.85 and a 12 month high of $8.75. The stock has a market capitalization of $401.02 million, a PE ratio of -4.12, a PEG ratio of 0.37 and a beta of 1.30. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34. The company's 50-day moving average is $6.29 and its two-hundred day moving average is $6.34.

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

MeiraGTx Company 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.