Northern Trust Corp Boosts Holdings in MeiraGTx Holdings plc (NASDAQ:MGTX)

Northern Trust Corp raised its position in MeiraGTx Holdings plc (NASDAQ:MGTX) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 315,665 shares of the company’s stock after acquiring an additional 50,267 shares during the period. Northern Trust Corp owned approximately 0.40% of MeiraGTx worth $1,922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its position 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 worth $3,475,000 after purchasing an additional 80,407 shares in the last quarter. Privium Fund Management B.V. raised its stake in MeiraGTx by 5.2% in the fourth quarter. Privium Fund Management B.V. now owns 225,078 shares of the company’s stock valued at $1,371,000 after buying an additional 11,118 shares during the last quarter. Long Focus Capital Management LLC acquired a new stake in MeiraGTx in the fourth quarter worth about $1,156,000. Charles Schwab Investment Management Inc. boosted its holdings in MeiraGTx by 13.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 112,021 shares of the company’s stock worth $682,000 after acquiring an additional 12,961 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of MeiraGTx by 10.6% during the fourth quarter. Bank of New York Mellon Corp now owns 106,582 shares of the company’s stock worth $649,000 after acquiring an additional 10,217 shares during the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.

MeiraGTx Stock Up 0.8%

Shares of MGTX stock opened at $5.10 on Tuesday. MeiraGTx Holdings plc has a fifty-two week low of $3.85 and a fifty-two week high of $8.75. The firm has a market capitalization of $409.86 million, a PE ratio of -4.21, a P/E/G 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 stock’s 50-day simple moving average is $6.01 and its 200-day simple moving average is $6.30.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.93 million during the quarter, compared to analyst estimates of $4.44 million. Equities analysts expect that MeiraGTx Holdings plc will post -1.48 earnings per share for the current year.

Insider Activity

In other MeiraGTx news, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard Giroux sold 24,000 shares of the company’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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 7.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGTX. Royal Bank of Canada increased 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. Wall Street Zen downgraded shares of MeiraGTx from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, Chardan Capital dropped their price objective on shares of MeiraGTx from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th.

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.