Hobbs Group Advisors LLC Makes New Investment in MeiraGTx Holdings plc (NASDAQ:MGTX)

Hobbs Group Advisors LLC purchased a new position in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 38,932 shares of the company’s stock, valued at approximately $164,000. Hobbs Group Advisors LLC owned 0.06% of MeiraGTx as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in shares of MeiraGTx during the 1st quarter worth about $25,000. Tower Research Capital LLC TRC boosted its stake in shares of MeiraGTx by 91.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,286 shares of the company’s stock worth $30,000 after acquiring an additional 2,045 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of MeiraGTx by 66.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,246 shares of the company’s stock worth $74,000 after acquiring an additional 4,892 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of MeiraGTx during the 1st quarter worth about $100,000. Finally, SG Americas Securities LLC boosted its stake in shares of MeiraGTx by 30.8% during the 4th quarter. SG Americas Securities LLC now owns 15,950 shares of the company’s stock worth $112,000 after acquiring an additional 3,755 shares in the last quarter. 67.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MeiraGTx

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

MeiraGTx Stock Performance

MGTX traded down $0.10 on Tuesday, reaching $4.21. The company had a trading volume of 104,995 shares, compared to its average volume of 172,398. MeiraGTx Holdings plc has a 1 year low of $3.49 and a 1 year high of $7.60. The stock has a market capitalization of $270.73 million, a PE ratio of -3.73 and a beta of 1.33. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $4.45 and a 200-day moving average price of $5.23.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MGTX. Royal Bank of Canada decreased their price target on shares of MeiraGTx from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Chardan Capital reiterated a “buy” rating and issued a $36.00 target price on shares of MeiraGTx in a report on Wednesday, July 31st.

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.