14,213 Shares in MeiraGTx Holdings PLC $MGTX Bought by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC bought a new position in MeiraGTx Holdings PLC (NASDAQ:MGTX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,213 shares of the company’s stock, valued at approximately $93,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MGTX. Adage Capital Partners GP L.L.C. raised its stake in MeiraGTx by 11.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 5,634,578 shares of the company’s stock worth $38,202,000 after acquiring an additional 600,000 shares during the last quarter. Invesco Ltd. raised its stake in MeiraGTx by 1,628.7% in the 1st quarter. Invesco Ltd. now owns 350,401 shares of the company’s stock worth $2,376,000 after acquiring an additional 330,131 shares during the last quarter. 683 Capital Management LLC raised its stake in MeiraGTx by 6.6% in the 1st quarter. 683 Capital Management LLC now owns 2,575,000 shares of the company’s stock worth $17,458,000 after acquiring an additional 160,000 shares during the last quarter. Affinity Asset Advisors LLC purchased a new position in MeiraGTx in the 1st quarter worth $1,017,000. Finally, Nuveen LLC purchased a new position in MeiraGTx in the 1st quarter worth $1,012,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

Insider Transactions at MeiraGTx

In other news, CEO Alexandria Forbes sold 47,500 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $8.39, for a total transaction of $398,525.00. Following the sale, the chief executive officer directly owned 1,313,983 shares in the company, valued at $11,024,317.37. This trade represents a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Giroux sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $8.52, for a total value of $204,480.00. Following the sale, the chief financial officer owned 853,494 shares in the company, valued at $7,271,768.88. This trade represents a 2.74% 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 Price Performance

Shares of MGTX opened at $7.84 on Friday. The business’s 50-day moving average is $7.86 and its two-hundred day moving average is $6.97. The company has a market capitalization of $630.73 million, a P/E ratio of -3.84 and a beta of 1.34. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.88 and a current ratio of 0.88. MeiraGTx Holdings PLC has a fifty-two week low of $4.01 and a fifty-two week high of $8.98.

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

Analyst Ratings Changes

MGTX has been the subject of a number of research analyst reports. Wall Street Zen upgraded MeiraGTx from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Chardan Capital reaffirmed a “buy” rating and set a $35.00 price target on shares of MeiraGTx in a research report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $24.00.

About MeiraGTx

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.