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

Knott David M Jr grew its position in MeiraGTx Holdings plc (NASDAQ:MGTX) by 1,921.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,080 shares of the company’s stock after purchasing an additional 90,377 shares during the quarter. Knott David M Jr owned approximately 0.12% of MeiraGTx worth $579,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of MGTX. Erste Asset Management GmbH bought a new stake in MeiraGTx during the third quarter valued at $2,795,000. Garden State Investment Advisory Services LLC bought a new stake in MeiraGTx in the third quarter worth approximately $1,636,000. Geode Capital Management LLC lifted its stake in MeiraGTx by 16.4% in the fourth 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 period. Barclays PLC lifted its stake in MeiraGTx by 107.1% in the third quarter. Barclays PLC now owns 147,827 shares of the company’s stock valued at $618,000 after buying an additional 76,437 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of MeiraGTx during the 4th quarter worth approximately $459,000. 67.48% of the stock is currently owned by institutional investors and hedge funds.

MeiraGTx Stock Down 7.5 %

MeiraGTx stock opened at $6.78 on Tuesday. The firm has a market capitalization of $534.64 million, a price-to-earnings ratio of -5.60, a price-to-earnings-growth ratio of 0.37 and a beta of 1.23. The firm’s fifty day moving average price is $6.84 and its two-hundred day moving average price is $6.10. 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.

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

Analyst Upgrades and Downgrades

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

Insider Activity at MeiraGTx

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

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.