Royce & Associates LP Reduces Holdings in MeiraGTx Holdings plc (NASDAQ:MGTX)

Royce & Associates LP cut its stake in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) by 23.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 610,275 shares of the company’s stock after selling 185,117 shares during the quarter. Royce & Associates LP owned 0.78% of MeiraGTx worth $3,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. boosted its holdings in MeiraGTx by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,571 shares of the company’s stock valued at $101,000 after acquiring an additional 1,685 shares during the period. SG Americas Securities LLC boosted its holdings in MeiraGTx by 13.3% during the 4th quarter. SG Americas Securities LLC now owns 22,240 shares of the company’s stock valued at $135,000 after acquiring an additional 2,617 shares during the period. JPMorgan Chase & Co. boosted its holdings in MeiraGTx by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 342,667 shares of the company’s stock valued at $1,429,000 after acquiring an additional 4,186 shares during the period. Fort Sheridan Advisors LLC boosted its holdings in MeiraGTx by 7.0% during the 4th quarter. Fort Sheridan Advisors LLC now owns 69,955 shares of the company’s stock valued at $426,000 after acquiring an additional 4,557 shares during the period. Finally, DAVENPORT & Co LLC raised its position in MeiraGTx by 6.9% during the 4th quarter. DAVENPORT & Co LLC now owns 77,200 shares of the company’s stock valued at $470,000 after purchasing an additional 5,000 shares during the last quarter. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MeiraGTx

In other news, CFO Richard Giroux sold 24,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total value of $150,960.00. Following the completion of the transaction, the chief financial officer now owns 849,947 shares of the company’s stock, valued at approximately $5,346,166.63. This represents a 2.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alexandria Forbes sold 35,839 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $6.47, for a total value of $231,878.33. Following the completion of the transaction, the chief executive officer now directly owns 1,395,102 shares of the company’s stock, valued at $9,026,309.94. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.40% of the company’s stock.

MeiraGTx Stock Up 3.6 %

Shares of NASDAQ:MGTX opened at $7.77 on Thursday. MeiraGTx Holdings plc has a 52-week low of $3.85 and a 52-week high of $8.75. The firm has a market capitalization of $612.70 million, a P/E ratio of -6.42, a P/E/G ratio of 0.37 and a beta of 1.23. The stock has a 50 day moving average price of $6.62 and a 200-day moving average price of $5.90. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34.

MeiraGTx (NASDAQ:MGTX) last announced its earnings results on Thursday, March 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. The firm had revenue of $21.39 million during the quarter, compared to the consensus estimate of $1.50 million. As a group, equities research analysts anticipate that MeiraGTx Holdings plc will post -1.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MGTX shares. Chardan Capital reaffirmed a “buy” rating and set a $36.00 price target on shares of MeiraGTx in a research report on Monday, February 24th. Royal Bank of Canada upped their price target on MeiraGTx from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Monday.

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.