The Manufacturers Life Insurance Company Grows Holdings in MeiraGTx Holdings plc (NASDAQ:MGTX)

The Manufacturers Life Insurance Company raised its holdings in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) by 19.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,763 shares of the company’s stock after purchasing an additional 2,839 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MeiraGTx were worth $75,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new position in MeiraGTx in the 1st quarter worth about $706,000. Privium Fund Management B.V. bought a new stake in shares of MeiraGTx during the first quarter valued at approximately $728,000. BNP Paribas Financial Markets raised its stake in shares of MeiraGTx by 73.9% during the first quarter. BNP Paribas Financial Markets now owns 19,242 shares of the company’s stock valued at $117,000 after acquiring an additional 8,178 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of MeiraGTx by 1.9% in the first 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 during the period. Finally, Tocqueville Asset Management L.P. grew its stake in MeiraGTx by 16.3% in the first quarter. Tocqueville Asset Management L.P. now owns 39,500 shares of the company’s stock worth $240,000 after purchasing an additional 5,550 shares in the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.

MeiraGTx Price Performance

NASDAQ MGTX opened at $6.14 on Monday. The company has a market cap of $394.84 million, a PE ratio of -5.25 and a beta of 1.29. MeiraGTx Holdings plc has a 52-week low of $3.49 and a 52-week 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 firm’s 50 day moving average price is $4.29 and its 200-day moving average price is $4.66.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 1,146.81% and a negative return on equity of 152.82%. Sell-side analysts forecast that MeiraGTx Holdings plc will post -1.37 EPS for the current fiscal year.

Insider Activity at MeiraGTx

In other news, 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, for a total transaction of $5,000,000.00. Following the completion of the acquisition, the director now owns 12,531,103 shares of the company’s stock, valued at $50,124,412. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.