Russell Investments Group Ltd. Has $1.05 Million Stake in MeiraGTx Holdings PLC $MGTX

Russell Investments Group Ltd. decreased its holdings in MeiraGTx Holdings PLC (NASDAQ:MGTX) by 45.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,152 shares of the company’s stock after selling 127,154 shares during the period. Russell Investments Group Ltd. owned about 0.19% of MeiraGTx worth $1,052,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MGTX. Sanofi acquired a new position in shares of MeiraGTx in the 4th quarter valued at about $74,284,000. Woodline Partners LP acquired a new position in MeiraGTx in the fourth quarter worth approximately $9,349,000. Invesco Ltd. increased its holdings in MeiraGTx by 1,628.7% in the first quarter. Invesco Ltd. now owns 350,401 shares of the company’s stock worth $2,376,000 after buying an additional 330,131 shares during the last quarter. Nuveen LLC acquired a new position in MeiraGTx in the first quarter worth approximately $1,012,000. Finally, Informed Momentum Co LLC acquired a new position in MeiraGTx in the first quarter worth approximately $563,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

Insider Buying and Selling

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $8.52, for a total transaction of $204,480.00. Following the completion of the sale, the chief financial officer owned 853,494 shares of the company’s stock, valued at $7,271,768.88. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alexandria Forbes sold 47,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $7.97, for a total value of $378,575.00. Following the sale, the chief executive officer directly owned 1,361,483 shares of the company’s stock, valued at $10,851,019.51. The trade was a 3.37% decrease in their position. The disclosure for this sale can be found here. 7.50% of the stock is owned by corporate insiders.

MeiraGTx Stock Up 0.7%

Shares of MeiraGTx stock opened at $7.49 on Friday. The stock has a market capitalization of $602.57 million, a P/E ratio of -3.67 and a beta of 1.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 26.29. The stock has a 50 day moving average price of $7.78 and a two-hundred day moving average price of $6.78. MeiraGTx Holdings PLC has a 12-month low of $3.85 and a 12-month high of $8.98.

MeiraGTx (NASDAQ:MGTX) last announced its earnings results on Thursday, August 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.04. The firm had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $8.00 million. MeiraGTx had a negative return on equity of 314.44% and a negative net margin of 415.39%. Equities analysts expect that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MGTX shares. Chardan Capital restated a “buy” rating and issued a $35.00 price objective on shares of MeiraGTx in a report on Friday, August 15th. Wall Street Zen upgraded MeiraGTx from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, MeiraGTx has an average rating of “Buy” and an average price target of $24.00.

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.