Hobbs Group Advisors LLC Purchases New Holdings in MeiraGTx Holdings PLC $MGTX

Hobbs Group Advisors LLC purchased a new stake in MeiraGTx Holdings PLC (NASDAQ:MGTX) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 14,213 shares of the company’s stock, valued at approximately $93,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MGTX. GAMMA Investing LLC lifted its stake in MeiraGTx by 3,606.7% in the 1st quarter. GAMMA Investing LLC now owns 4,448 shares of the company’s stock valued at $30,000 after buying an additional 4,328 shares in the last quarter. Rhumbline Advisers lifted its stake in MeiraGTx by 6.1% in the 1st quarter. Rhumbline Advisers now owns 58,227 shares of the company’s stock valued at $395,000 after buying an additional 3,336 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in MeiraGTx by 62.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 122,220 shares of the company’s stock valued at $829,000 after buying an additional 46,902 shares in the last quarter. Acuitas Investments LLC purchased a new position in MeiraGTx in the 1st quarter valued at about $286,000. Finally, Bank of New York Mellon Corp lifted its stake in MeiraGTx by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 110,567 shares of the company’s stock valued at $750,000 after buying an additional 3,985 shares in the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 price target on shares of MeiraGTx in a research note on Friday, August 15th. Wall Street Zen raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.00.

MeiraGTx Trading Down 10.5%

MGTX opened at $7.84 on Friday. The company has a debt-to-equity ratio of 26.29, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50 day simple moving average is $7.86 and its two-hundred day simple moving average is $6.97. MeiraGTx Holdings PLC has a 1-year low of $4.01 and a 1-year high of $8.98. The firm has a market capitalization of $630.73 million, a price-to-earnings ratio of -3.84 and a beta of 1.34.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.04. The firm had revenue of $3.69 million for the quarter, compared to analyst estimates of $8.00 million. MeiraGTx had a negative net margin of 415.39% and a negative return on equity of 314.44%. Analysts expect that MeiraGTx Holdings PLC will post -1.48 EPS for the current fiscal year.

Insider Activity at MeiraGTx

In other news, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $8.39, for a total transaction of $398,525.00. Following the sale, the chief executive officer owned 1,313,983 shares of the company’s stock, valued at approximately $11,024,317.37. The trade was a 3.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $8.52, for a total transaction of $204,480.00. Following the sale, the chief financial officer directly owned 853,494 shares in the company, valued at approximately $7,271,768.88. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by insiders.

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.