MeiraGTx Holdings PLC (NASDAQ:MGTX) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its stake in MeiraGTx Holdings PLC (NASDAQ:MGTX) by 62.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,220 shares of the company’s stock after purchasing an additional 46,902 shares during the period. Janney Montgomery Scott LLC owned 0.15% of MeiraGTx worth $829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. boosted its holdings in shares of MeiraGTx by 106.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company’s stock valued at $30,000 after buying an additional 2,515 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in MeiraGTx by 68.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company’s stock valued at $30,000 after acquiring an additional 2,016 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of MeiraGTx by 3,606.7% during the first quarter. GAMMA Investing LLC now owns 4,448 shares of the company’s stock worth $30,000 after purchasing an additional 4,328 shares during the last quarter. Polymer Capital Management US LLC purchased a new position in shares of MeiraGTx during the fourth quarter worth about $88,000. Finally, ProShare Advisors LLC increased 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 worth $102,000 after purchasing an additional 4,910 shares in the last quarter. Institutional investors and hedge funds own 67.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen cut MeiraGTx from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Royal Bank Of Canada boosted their price objective on MeiraGTx from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Monday, March 17th. Finally, Chardan Capital cut their target price 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 Stock Performance

Shares of MGTX stock opened at $6.52 on Tuesday. The stock’s 50-day moving average price is $5.99 and its 200 day moving average price is $6.26. The company has a quick ratio of 1.51, a current ratio of 1.53 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $523.98 million, a PE ratio of -2.81 and a beta of 1.16. MeiraGTx Holdings PLC has a 52-week low of $3.85 and a 52-week high of $8.75.

MeiraGTx (NASDAQ:MGTX) last released its earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share (EPS) 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 company had revenue of $1.93 million during the quarter, compared to analyst estimates of $4.44 million. As a group, equities research analysts forecast that MeiraGTx Holdings PLC will post -1.48 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Alexandria Forbes sold 47,500 shares of the firm’s 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 owned 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $6.00, for a total transaction of $144,000.00. Following the completion of the sale, the chief financial officer owned 882,494 shares of the company’s stock, valued at $5,294,964. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.50% of the company’s stock.

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.