Cornercap Investment Counsel Inc. Trims Holdings in MeiraGTx Holdings plc (NASDAQ:MGTX)

Cornercap Investment Counsel Inc. reduced its stake in shares of MeiraGTx Holdings plc (NASDAQ:MGTX) by 58.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,290 shares of the company’s stock after selling 18,426 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in MeiraGTx were worth $55,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in MeiraGTx in the 1st quarter valued at about $25,000. China Universal Asset Management Co. Ltd. grew its stake in MeiraGTx by 97.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,886 shares of the company’s stock worth $62,000 after purchasing an additional 7,330 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in MeiraGTx by 19.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,763 shares of the company’s stock worth $75,000 after purchasing an additional 2,839 shares during the period. SG Americas Securities LLC bought a new stake in MeiraGTx during the 3rd quarter valued at $82,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of MeiraGTx in the 2nd quarter worth $97,000. 67.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MGTX has been the subject of several recent research reports. Royal Bank of Canada lifted their price objective on MeiraGTx from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Chardan Capital reaffirmed a “buy” rating and issued a $36.00 price target on shares of MeiraGTx in a research report on Monday.

MeiraGTx Trading Down 6.0 %

Shares of NASDAQ MGTX opened at $6.09 on Tuesday. MeiraGTx Holdings plc has a 1-year low of $3.85 and a 1-year high of $7.60. The business has a fifty day moving average price of $5.17 and a 200 day moving average price of $4.80. The stock has a market capitalization of $475.95 million, a P/E ratio of -5.03 and a beta of 1.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.36.

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.