Levin Capital Strategies L.P. Takes Position in MeiraGTx Holdings PLC $MGTX

Levin Capital Strategies L.P. purchased a new position in MeiraGTx Holdings PLC (NASDAQ:MGTX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 25,000 shares of the company’s stock, valued at approximately $163,000.

Several other large investors also recently added to or reduced their stakes in MGTX. FNY Investment Advisers LLC purchased a new stake in MeiraGTx during the second quarter valued at approximately $61,000. Privium Fund Management B.V. increased its position in shares of MeiraGTx by 39.3% during the 2nd quarter. Privium Fund Management B.V. now owns 163,000 shares of the company’s stock valued at $1,056,000 after purchasing an additional 46,000 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of MeiraGTx during the 2nd quarter valued at approximately $93,000. PUREfi Wealth LLC raised its holdings in MeiraGTx by 100.0% during the 2nd quarter. PUREfi Wealth LLC now owns 20,000 shares of the company’s stock valued at $130,000 after buying an additional 10,000 shares during the period. Finally, Rhumbline Advisers lifted its position in MeiraGTx by 6.1% in the first quarter. Rhumbline Advisers now owns 58,227 shares of the company’s stock worth $395,000 after buying an additional 3,336 shares during the last quarter. 67.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on MGTX. Chardan Capital reaffirmed a “buy” rating and set a $35.00 price objective on shares of MeiraGTx in a research note on Friday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a report on Wednesday, October 8th. Finally, Raymond James Financial initiated coverage on shares of MeiraGTx in a research note on Tuesday, October 21st. They set a “strong-buy” rating and a $29.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.67.

Insider Activity

In other MeiraGTx news, CEO Alexandria Forbes sold 47,500 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $8.39, for a total value of $398,525.00. Following the transaction, the chief executive officer directly owned 1,313,983 shares in the company, valued at $11,024,317.37. This represents a 3.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $8.87, for a total transaction of $212,880.00. Following the sale, the chief financial officer directly owned 829,494 shares of the company’s stock, valued at $7,357,611.78. This represents a 2.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 7.50% of the stock is owned by insiders.

MeiraGTx Stock Performance

Shares of MeiraGTx stock opened at $8.73 on Tuesday. 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 stock’s fifty day moving average is $8.08 and its two-hundred day moving average is $7.29. MeiraGTx Holdings PLC has a 52 week low of $4.55 and a 52 week high of $9.50. The company has a market capitalization of $702.33 million, a PE ratio of -4.28 and a beta of 1.35.

MeiraGTx (NASDAQ:MGTX) last issued its earnings results on Thursday, August 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.04. The firm had revenue of $3.69 million during the quarter, compared to analyst estimates of $8.00 million. MeiraGTx had a negative net margin of 415.39% and a negative return on equity of 314.44%. As a group, analysts expect that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current year.

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.