Trexquant Investment LP Purchases Shares of 39,348 MeiraGTx Holdings plc (NASDAQ:MGTX)

Trexquant Investment LP acquired a new stake in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 39,348 shares of the company’s stock, valued at approximately $240,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MGTX. Geode Capital Management LLC grew its position in MeiraGTx by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 570,646 shares of the company’s stock valued at $3,475,000 after acquiring an additional 80,407 shares during the period. Corebridge Financial Inc. grew its holdings in shares of MeiraGTx by 11.6% during the 4th quarter. Corebridge Financial Inc. now owns 23,147 shares of the company’s stock worth $141,000 after purchasing an additional 2,405 shares during the period. Privium Fund Management B.V. increased its position in MeiraGTx by 5.2% during the 4th quarter. Privium Fund Management B.V. now owns 225,078 shares of the company’s stock worth $1,371,000 after purchasing an additional 11,118 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in MeiraGTx by 13.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 112,021 shares of the company’s stock valued at $682,000 after buying an additional 12,961 shares during the period. Finally, Fort Sheridan Advisors LLC lifted its position in MeiraGTx by 7.0% during the fourth quarter. Fort Sheridan Advisors LLC now owns 69,955 shares of the company’s stock valued at $426,000 after buying an additional 4,557 shares in the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Richard Giroux sold 24,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total value of $150,960.00. Following the completion of the transaction, the chief financial officer now owns 849,947 shares of the company’s stock, valued at approximately $5,346,166.63. This represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total value of $253,650.00. Following the sale, the chief executive officer now owns 1,408,983 shares in the company, valued at $7,523,969.22. This represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.

MeiraGTx Stock Up 2.6 %

NASDAQ MGTX opened at $5.20 on Monday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. MeiraGTx Holdings plc has a fifty-two week low of $3.85 and a fifty-two week high of $8.75. The business has a 50 day moving average price of $6.70 and a two-hundred day moving average price of $6.20. The stock has a market cap of $410.05 million, a PE ratio of -4.30, a P/E/G ratio of 0.37 and a beta of 1.21.

MeiraGTx (NASDAQ:MGTX) last announced its 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). MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. The firm had revenue of $21.39 million during the quarter, compared to analysts’ expectations of $1.50 million. As a group, sell-side analysts predict that MeiraGTx Holdings plc will post -1.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MGTX has been the subject of several recent research reports. Royal Bank of Canada increased their price objective on shares of MeiraGTx from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Monday, March 17th. Chardan Capital reiterated a “buy” rating and issued a $36.00 price target on shares of MeiraGTx in a report on Monday, February 24th.

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.