Charles Schwab Investment Management Inc. Grows Stake in MeiraGTx Holdings plc (NASDAQ:MGTX)

Charles Schwab Investment Management Inc. raised its position in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) by 13.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,021 shares of the company’s stock after purchasing an additional 12,961 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MeiraGTx were worth $682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of MeiraGTx by 142.5% during the third quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company’s stock valued at $39,000 after buying an additional 5,476 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in MeiraGTx by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,571 shares of the company’s stock worth $101,000 after acquiring an additional 1,685 shares in the last quarter. PUREfi Wealth LLC purchased a new position in MeiraGTx during the 4th quarter valued at about $122,000. SG Americas Securities LLC raised its holdings in shares of MeiraGTx by 13.3% in the 4th quarter. SG Americas Securities LLC now owns 22,240 shares of the company’s stock valued at $135,000 after purchasing an additional 2,617 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of MeiraGTx by 12.3% in the 4th quarter. Rhumbline Advisers now owns 54,891 shares of the company’s stock worth $334,000 after purchasing an additional 5,993 shares during the period. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MGTX has been the topic of several research reports. Royal Bank of Canada lifted their price objective on shares of MeiraGTx from $11.00 to $13.00 and gave the company an “outperform” rating in a 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.

Insider Activity

In related news, CFO Richard Giroux sold 24,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total transaction of $150,960.00. Following the transaction, the chief financial officer now directly owns 849,947 shares of the company’s stock, valued at $5,346,166.63. This represents a 2.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Alexandria Forbes sold 35,839 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $6.47, for a total value of $231,878.33. Following the completion of the sale, the chief executive officer now directly owns 1,395,102 shares of the company’s stock, valued at approximately $9,026,309.94. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.

MeiraGTx Stock Performance

MGTX stock opened at $6.78 on Tuesday. MeiraGTx Holdings plc has a one year low of $3.85 and a one year high of $8.75. The firm has a market cap of $534.64 million, a price-to-earnings ratio of -5.60, a PEG ratio of 0.37 and a beta of 1.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a 50-day simple moving average of $6.84 and a two-hundred day simple moving average of $6.10.

MeiraGTx (NASDAQ:MGTX) last posted its earnings results on Thursday, March 13th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.50 million. On average, equities analysts forecast that MeiraGTx Holdings plc will post -1.48 EPS for the current fiscal year.

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.