MeiraGTx Holdings plc (NASDAQ:MGTX) Shares Purchased by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. raised its stake in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) by 38.5% during the second quarter, HoldingsChannel reports. The fund owned 45,300 shares of the company’s stock after acquiring an additional 12,600 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in MeiraGTx were worth $191,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in shares of MeiraGTx by 10.8% during the second quarter. Rhumbline Advisers now owns 52,996 shares of the company’s stock worth $223,000 after purchasing an additional 5,178 shares during the last quarter. Privium Fund Management B.V. lifted its holdings in MeiraGTx by 70.0% during the 2nd quarter. Privium Fund Management B.V. now owns 203,960 shares of the company’s stock worth $804,000 after buying an additional 83,975 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of MeiraGTx in the 2nd quarter worth approximately $97,000. Hobbs Group Advisors LLC bought a new stake in shares of MeiraGTx in the 2nd quarter valued at approximately $164,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of MeiraGTx during the 1st quarter valued at approximately $100,000. 67.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MGTX shares. Royal Bank of Canada decreased their price objective on shares of MeiraGTx from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Chardan Capital reaffirmed a “buy” rating and issued a $36.00 price target on shares of MeiraGTx in a report on Wednesday, July 31st.

Insider Activity at MeiraGTx

In other news, Director Perceptive Advisors Llc bought 1,250,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $4.00 per share, for a total transaction of $5,000,000.00. Following the transaction, the director now owns 12,531,103 shares in the company, valued at $50,124,412. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.40% of the stock is currently owned by insiders.

MeiraGTx Stock Performance

Shares of MeiraGTx stock traded down $0.04 on Friday, reaching $3.88. 149,156 shares of the company were exchanged, compared to its average volume of 171,240. The firm has a market cap of $249.51 million, a price-to-earnings ratio of -3.32 and a beta of 1.28. MeiraGTx Holdings plc has a 1-year low of $3.49 and a 1-year high of $7.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.36 and a current ratio of 2.36. The company’s 50-day moving average is $4.36 and its two-hundred day moving average is $5.03.

MeiraGTx (NASDAQ:MGTX) last issued its earnings results on Monday, August 12th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.45). MeiraGTx had a negative return on equity of 152.82% and a negative net margin of 1,146.81%. The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $16.38 million. As a group, research analysts expect that MeiraGTx Holdings plc will post -1.37 earnings per share for the current fiscal 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.