Invesco Ltd. Increases Stake in MeiraGTx Holdings plc (NASDAQ:MGTX)

Invesco Ltd. lifted its stake in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) by 59.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,270 shares of the company’s stock after acquiring an additional 7,569 shares during the quarter. Invesco Ltd.’s holdings in MeiraGTx were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Knott David M Jr lifted its position in shares of MeiraGTx by 1,921.7% during the 4th quarter. Knott David M Jr now owns 95,080 shares of the company’s stock worth $579,000 after purchasing an additional 90,377 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of MeiraGTx by 16.4% in the 4th quarter. Geode Capital Management LLC now owns 570,646 shares of the company’s stock valued at $3,475,000 after buying an additional 80,407 shares in the last quarter. Barclays PLC grew its position 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 during the last quarter. Janney Montgomery Scott LLC acquired a new stake in MeiraGTx during the 4th quarter worth $459,000. Finally, Trexquant Investment LP purchased a new stake in shares of MeiraGTx in the 4th quarter valued at about $240,000. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MeiraGTx

In other news, CFO Richard Giroux sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $6.00, for a total value of $144,000.00. Following the completion of the transaction, the chief financial officer now owns 882,494 shares of the company’s stock, valued at $5,294,964. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Alexandria Forbes sold 47,500 shares of the stock in a transaction 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 in the company, valued at approximately $7,523,969.22. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.40% of the company’s stock.

MeiraGTx Stock Down 11.0 %

MGTX stock opened at $6.45 on Tuesday. The company’s 50-day moving average price is $6.52 and its 200 day moving average price is $6.38. The company has a market cap of $515.68 million, a P/E ratio of -5.33, a P/E/G ratio of 0.37 and a beta of 1.30. MeiraGTx Holdings plc has a 52 week low of $3.85 and a 52 week high of $8.75. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MGTX shares. Chardan Capital reissued a “buy” rating and issued a $36.00 price objective on shares of MeiraGTx in a report on Monday, February 24th. Royal Bank of Canada raised their price objective on shares of MeiraGTx from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Monday, March 17th.

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.