Knott David M Jr Buys 90,377 Shares of MeiraGTx Holdings plc (NASDAQ:MGTX)

Knott David M Jr grew its stake in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) by 1,921.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 95,080 shares of the company’s stock after acquiring an additional 90,377 shares during the period. Knott David M Jr’s holdings in MeiraGTx were worth $579,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MGTX. Erste Asset Management GmbH bought a new position in MeiraGTx during the third quarter valued at $2,795,000. State Street Corp raised its stake in shares of MeiraGTx by 0.9% in the third quarter. State Street Corp now owns 574,727 shares of the company’s stock valued at $2,397,000 after buying an additional 5,251 shares during the period. Geode Capital Management LLC lifted its position in shares of MeiraGTx by 16.4% during the 4th quarter. Geode Capital Management LLC now owns 570,646 shares of the company’s stock valued at $3,475,000 after buying an additional 80,407 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of MeiraGTx during the 3rd quarter worth $1,636,000. Finally, JPMorgan Chase & Co. increased its holdings in MeiraGTx by 1.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 342,667 shares of the company’s stock worth $1,429,000 after acquiring an additional 4,186 shares during the last quarter. Hedge funds and other institutional investors own 67.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Chardan Capital reaffirmed a “buy” rating and set a $36.00 price objective on shares of MeiraGTx in a report on Monday, February 24th. Royal Bank of Canada raised their price objective on shares of MeiraGTx from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Monday, March 17th.

MeiraGTx Stock Down 7.5 %

Shares of NASDAQ MGTX opened at $6.78 on Tuesday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. The company has a market cap of $534.64 million, a P/E ratio of -5.60, a P/E/G ratio of 0.37 and a beta of 1.23. MeiraGTx Holdings plc has a 52 week low of $3.85 and a 52 week high of $8.75. The business has a 50-day simple moving average of $6.84 and a two-hundred day simple moving average of $6.10.

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

Insiders Place Their Bets

In other MeiraGTx news, CEO Alexandria Forbes sold 35,839 shares of MeiraGTx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $6.47, for a total transaction of $231,878.33. Following the completion of the sale, the chief executive officer now owns 1,395,102 shares of the company’s stock, valued at $9,026,309.94. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.29, for a total value of $150,960.00. Following the transaction, the chief financial officer now owns 849,947 shares in the company, valued at $5,346,166.63. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.40% 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.