MeiraGTx Holdings PLC $MGTX Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lowered its position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) by 24.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,086 shares of the company’s stock after selling 65,267 shares during the period. Goldman Sachs Group Inc. owned 0.25% of MeiraGTx worth $1,377,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MGTX. GAMMA Investing LLC boosted its stake in MeiraGTx by 3,606.7% in the first quarter. GAMMA Investing LLC now owns 4,448 shares of the company’s stock valued at $30,000 after acquiring an additional 4,328 shares in the last quarter. CWM LLC boosted its stake in MeiraGTx by 1,737.7% in the first quarter. CWM LLC now owns 8,674 shares of the company’s stock valued at $59,000 after acquiring an additional 8,202 shares in the last quarter. Ieq Capital LLC acquired a new position in MeiraGTx in the first quarter valued at $83,000. ProShare Advisors LLC boosted its stake in MeiraGTx by 41.2% in the fourth quarter. ProShare Advisors LLC now owns 16,814 shares of the company’s stock valued at $102,000 after acquiring an additional 4,910 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MeiraGTx by 23.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,275 shares of the company’s stock valued at $160,000 after acquiring an additional 5,010 shares in the last quarter. Institutional investors and hedge funds own 67.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MGTX. Wall Street Zen upgraded shares of MeiraGTx from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 target price on shares of MeiraGTx in a report on Friday, August 15th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $24.00.

MeiraGTx Stock Performance

NASDAQ:MGTX opened at $7.56 on Friday. 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 company has a market cap of $608.20 million, a P/E ratio of -3.71 and a beta of 1.29. MeiraGTx Holdings PLC has a fifty-two week low of $3.94 and a fifty-two week high of $8.98. The firm’s 50 day moving average is $7.88 and its two-hundred day moving average is $6.86.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.04. MeiraGTx had a negative net margin of 415.39% and a negative return on equity of 314.44%. The company had revenue of $3.69 million for the quarter, compared to the consensus estimate of $8.00 million. Analysts expect 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, July 8th. The shares were sold at an average price of $7.97, for a total value of $378,575.00. Following the transaction, the chief executive officer owned 1,361,483 shares of the company’s stock, valued at approximately $10,851,019.51. This trade represents a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction 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 sale, the chief financial officer directly owned 853,494 shares in the company, valued at $7,271,768.88. This trade represents a 2.74% 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.