MeiraGTx Holdings plc (NASDAQ:MGTX) Director Perceptive Advisors Llc Buys 1,250,000 Shares

MeiraGTx Holdings plc (NASDAQ:MGTX) Director Perceptive Advisors Llc bought 1,250,000 shares of MeiraGTx stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $4.00 per share, with a total value of $5,000,000.00. Following the acquisition, the director now owns 12,531,103 shares in the company, valued at approximately $50,124,412. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

MeiraGTx Price Performance

Shares of MGTX traded down $0.22 during midday trading on Wednesday, hitting $4.00. 191,798 shares of the company traded hands, compared to its average volume of 170,850. The stock has a market cap of $257.23 million, a price-to-earnings ratio of -3.42 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.14 and a current ratio of 3.14. MeiraGTx Holdings plc has a 52 week low of $3.49 and a 52 week high of $7.60. The firm has a 50 day moving average of $4.48 and a 200-day moving average of $5.28.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.45). The company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $16.38 million. MeiraGTx had a negative net margin of 651.19% and a negative return on equity of 122.82%. On average, analysts forecast that MeiraGTx Holdings plc will post -1.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MGTX shares. Royal Bank of Canada lowered their target price on MeiraGTx from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Tuesday. Chardan Capital reissued a “buy” rating and issued a $36.00 price objective on shares of MeiraGTx in a report on Wednesday, July 31st.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MGTX. Dimensional Fund Advisors LP increased its stake in shares of MeiraGTx by 14.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 462,950 shares of the company’s stock valued at $1,949,000 after purchasing an additional 58,854 shares in the last quarter. Vanguard Group Inc. grew its stake in MeiraGTx by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 323,891 shares of the company’s stock valued at $1,966,000 after acquiring an additional 11,470 shares during the period. Privium Fund Management B.V. raised its position in shares of 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 purchasing an additional 83,975 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in MeiraGTx by 1.9% in the 1st quarter. Russell Investments Group Ltd. now owns 157,999 shares of the company’s stock valued at $959,000 after purchasing an additional 2,994 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of MeiraGTx during the first quarter worth $706,000. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

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.