Wellington Management Group LLP Cuts Position in MeiraGTx Holdings plc (NASDAQ:MGTX)

Wellington Management Group LLP lowered its holdings in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,747 shares of the company’s stock after selling 19,312 shares during the quarter. Wellington Management Group LLP’s holdings in MeiraGTx were worth $624,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in shares of MeiraGTx by 142.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company’s stock worth $39,000 after buying an additional 5,476 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in MeiraGTx by 97.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,886 shares of the company’s stock worth $62,000 after acquiring an additional 7,330 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in MeiraGTx by 19.0% during the second quarter. The Manufacturers Life Insurance Company now owns 17,763 shares of the company’s stock worth $75,000 after acquiring an additional 2,839 shares during the period. SG Americas Securities LLC purchased a new position in MeiraGTx during the third quarter valued at $82,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of MeiraGTx in the second quarter valued at about $97,000. 67.48% of the stock is owned by institutional investors and hedge funds.

MeiraGTx Stock Performance

NASDAQ:MGTX opened at $6.15 on Friday. The company has a market cap of $480.64 million, a P/E ratio of -5.08 and a beta of 1.25. MeiraGTx Holdings plc has a twelve month low of $3.85 and a twelve month high of $7.60. The company’s 50-day moving average price is $6.12 and its 200-day moving average price is $4.96. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MGTX shares. Royal Bank of Canada raised their price target on shares of MeiraGTx from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Chardan Capital restated a “buy” rating and issued a $36.00 target price on shares of MeiraGTx in a research report on Monday, November 18th.

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.