Sanofi Takes Position in MeiraGTx Holdings plc (NASDAQ:MGTX)

Sanofi bought a new stake in MeiraGTx Holdings plc (NASDAQ:MGTX) during the 4th quarter, HoldingsChannel reports. The fund bought 12,197,737 shares of the company’s stock, valued at approximately $74,284,000. MeiraGTx comprises 42.6% of Sanofi’s investment portfolio, making the stock its largest holding. Sanofi owned about 0.16% of MeiraGTx at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Investment Advisors Inc. increased its stake in MeiraGTx by 106.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company’s stock worth $30,000 after buying an additional 2,515 shares during the period. Tower Research Capital LLC TRC increased its stake in MeiraGTx by 68.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company’s stock worth $30,000 after buying an additional 2,016 shares during the period. Polymer Capital Management US LLC purchased a new position in MeiraGTx in the 4th quarter worth about $88,000. China Universal Asset Management Co. Ltd. increased its stake in MeiraGTx by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,571 shares of the company’s stock worth $101,000 after buying an additional 1,685 shares during the period. Finally, ProShare Advisors LLC increased its stake in MeiraGTx by 41.2% in the 4th quarter. ProShare Advisors LLC now owns 16,814 shares of the company’s stock worth $102,000 after buying an additional 4,910 shares during the period. Hedge funds and other institutional investors own 67.48% of the company’s stock.

MeiraGTx Stock Down 1.0%

Shares of MeiraGTx stock opened at $4.99 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34. MeiraGTx Holdings plc has a 1 year low of $3.85 and a 1 year high of $8.75. The firm’s 50-day moving average is $6.29 and its two-hundred day moving average is $6.34. The stock has a market cap of $398.96 million, a price-to-earnings ratio of -4.12, a PEG ratio of 0.37 and a beta of 1.30.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.13). The firm had revenue of $1.93 million during the quarter, compared to the consensus estimate of $4.44 million. MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. As a group, research analysts expect that MeiraGTx Holdings plc will post -1.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

MGTX has been the topic of several recent analyst reports. Chardan Capital reduced their price target on shares of MeiraGTx from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank of Canada increased their target price on shares of MeiraGTx from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Monday, March 17th.

Insider Buying and Selling

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $6.00, for a total transaction of $144,000.00. Following the completion of the transaction, the chief financial officer now directly owns 882,494 shares of the company’s stock, valued at approximately $5,294,964. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Alexandria Forbes sold 47,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total transaction of $253,650.00. Following the transaction, the chief executive officer now directly owns 1,408,983 shares of the company’s stock, 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. 7.50% of the stock is owned by company insiders.

MeiraGTx 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.