Royce & Associates LP Sells 185,117 Shares of MeiraGTx Holdings plc (NASDAQ:MGTX)

Royce & Associates LP lessened its stake in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) by 23.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,275 shares of the company’s stock after selling 185,117 shares during the period. Royce & Associates LP’s holdings in MeiraGTx were worth $3,717,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new stake in MeiraGTx during the 4th quarter valued at $459,000. Barclays PLC boosted its stake in MeiraGTx by 107.1% during the 3rd 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. State Street Corp boosted its stake in MeiraGTx by 0.9% during the 3rd quarter. State Street Corp now owns 574,727 shares of the company’s stock valued at $2,397,000 after purchasing an additional 5,251 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in MeiraGTx during the 3rd quarter valued at $1,636,000. Finally, JPMorgan Chase & Co. boosted its stake in MeiraGTx by 1.2% during the 3rd 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. Institutional investors own 67.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MGTX. Royal Bank of Canada increased their target price on MeiraGTx from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Monday. Chardan Capital reiterated a “buy” rating and set a $36.00 target price on shares of MeiraGTx in a research note on Monday, February 24th.

MeiraGTx Stock Performance

MGTX stock opened at $7.77 on Thursday. The company has a market cap of $612.70 million, a P/E ratio of -6.42, a price-to-earnings-growth ratio of 0.37 and a beta of 1.23. MeiraGTx Holdings plc has a 1 year low of $3.85 and a 1 year high of $8.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34. The stock’s fifty day moving average price is $6.62 and its 200-day moving average price is $5.90.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). The firm had revenue of $21.39 million during 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%. On average, equities analysts forecast that MeiraGTx Holdings plc will post -1.48 earnings per share for the current year.

Insider Transactions at MeiraGTx

In related news, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction 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. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alexandria Forbes sold 35,839 shares of MeiraGTx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $6.47, for a total value of $231,878.33. Following the transaction, the chief executive officer now owns 1,395,102 shares in the company, valued at $9,026,309.94. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.

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.