MeiraGTx Holdings plc (NASDAQ:MGTX) is Prosight Management LP’s 4th Largest Position

Prosight Management LP trimmed its stake in MeiraGTx Holdings plc (NASDAQ:MGTX) by 10.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,390,837 shares of the company’s stock after selling 509,733 shares during the quarter. MeiraGTx comprises 7.4% of Prosight Management LP’s portfolio, making the stock its 4th largest holding. Prosight Management LP owned about 0.06% of MeiraGTx worth $26,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in MeiraGTx in the fourth quarter worth approximately $459,000. Charles Schwab Investment Management Inc. increased its holdings in MeiraGTx by 13.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 112,021 shares of the company’s stock worth $682,000 after buying an additional 12,961 shares during the last quarter. Barclays PLC grew its holdings in MeiraGTx by 107.1% during the third quarter. Barclays PLC now owns 147,827 shares of the company’s stock valued at $618,000 after purchasing an additional 76,437 shares during the last quarter. Geode Capital Management LLC grew its holdings in MeiraGTx by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 570,646 shares of the company’s stock valued at $3,475,000 after purchasing an additional 80,407 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in MeiraGTx by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 342,667 shares of the company’s stock valued at $1,429,000 after purchasing an additional 4,186 shares during the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MGTX has been the topic of several analyst reports. Royal Bank of Canada increased their price target on MeiraGTx from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Monday, March 17th. Chardan Capital lowered their price target on MeiraGTx from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday.

Insider Buying and Selling

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $6.00, for a total transaction of $144,000.00. Following the completion of the transaction, the chief financial officer now directly owns 882,494 shares of the company’s stock, valued at approximately $5,294,964. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx 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 transaction, the chief executive officer now directly owns 1,408,983 shares of the company’s stock, valued at approximately $7,523,969.22. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.50% of the stock is owned by company insiders.

MeiraGTx Stock Down 9.9%

MGTX opened at $4.64 on Thursday. MeiraGTx Holdings plc has a 1-year low of $3.85 and a 1-year high of $8.75. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $370.97 million, a price-to-earnings ratio of -3.83, a P/E/G ratio of 0.37 and a beta of 1.30. The business has a 50 day moving average of $6.34 and a 200-day moving average of $6.35.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.13). MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. The business had revenue of $1.93 million during the quarter, compared to the consensus estimate of $4.44 million. As a group, sell-side analysts anticipate that MeiraGTx Holdings plc will post -1.48 earnings per share for the current year.

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.