GAMMA Investing LLC Grows Stake in MeiraGTx Holdings PLC (NASDAQ:MGTX)

GAMMA Investing LLC lifted its holdings in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) by 3,606.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,448 shares of the company’s stock after buying an additional 4,328 shares during the period. GAMMA Investing LLC’s holdings in MeiraGTx were worth $30,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its position in shares of MeiraGTx by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 151,126 shares of the company’s stock valued at $920,000 after buying an additional 1,379 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of MeiraGTx during the fourth quarter valued at $9,349,000. Sanofi purchased a new stake in shares of MeiraGTx during the fourth quarter valued at $74,284,000. ProShare Advisors LLC boosted its position in shares of MeiraGTx by 41.2% during the fourth quarter. ProShare Advisors LLC now owns 16,814 shares of the company’s stock valued at $102,000 after buying an additional 4,910 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of MeiraGTx by 43.2% during the fourth quarter. Nuveen Asset Management LLC now owns 191,311 shares of the company’s stock valued at $1,165,000 after buying an additional 57,737 shares during the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.

MeiraGTx Stock Up 2.0%

MGTX stock opened at $6.67 on Friday. MeiraGTx Holdings PLC has a fifty-two week low of $3.85 and a fifty-two week high of $8.75. The business’s 50-day moving average is $5.95 and its two-hundred day moving average is $6.25. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.51 and a current ratio of 1.53. The company has a market cap of $536.00 million, a price-to-earnings ratio of -2.88 and a beta of 1.16.

MeiraGTx (NASDAQ:MGTX) last posted its earnings results 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 net margin of 484.90% and a negative return on equity of 241.05%. The firm had revenue of $1.93 million during the quarter, compared to the consensus estimate of $4.44 million. As a group, analysts forecast that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current year.

Insider Transactions at MeiraGTx

In other news, CFO Richard Giroux sold 24,000 shares of the firm’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 of the company’s stock, valued at $5,294,964. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alexandria Forbes sold 47,500 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total value of $253,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,408,983 shares in the company, valued at $7,523,969.22. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

About MeiraGTx

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.