Erste Asset Management GmbH Boosts Holdings in MeiraGTx Holdings PLC $MGTX

Erste Asset Management GmbH increased its holdings in MeiraGTx Holdings PLC (NASDAQ:MGTX) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 789,702 shares of the company’s stock after purchasing an additional 80,000 shares during the period. Erste Asset Management GmbH’s holdings in MeiraGTx were worth $6,275,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. grew its holdings in MeiraGTx by 183.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 308,509 shares of the company’s stock valued at $2,453,000 after buying an additional 199,528 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in MeiraGTx during the 4th quarter valued at approximately $2,371,000. Royce & Associates LP purchased a new position in MeiraGTx during the 4th quarter valued at approximately $1,400,000. UBS Group AG grew its holdings in MeiraGTx by 11.9% during the 3rd quarter. UBS Group AG now owns 81,593 shares of the company’s stock valued at $672,000 after buying an additional 8,694 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in MeiraGTx by 85.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,937 shares of the company’s stock valued at $74,000 after buying an additional 4,127 shares in the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HC Wainwright restated a “buy” rating on shares of MeiraGTx in a report on Tuesday, May 26th. Zacks Research upgraded MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Chardan Capital restated a “buy” rating and set a $35.00 price target on shares of MeiraGTx in a report on Friday, March 27th. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a report on Tuesday, April 21st. Finally, Bank of America raised their price target on MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

MeiraGTx Stock Performance

Shares of MeiraGTx stock opened at $9.21 on Wednesday. The stock has a market cap of $852.94 million, a price-to-earnings ratio of -6.22 and a beta of 1.26. The stock has a 50 day moving average price of $9.56 and a 200-day moving average price of $8.40. MeiraGTx Holdings PLC has a one year low of $6.07 and a one year high of $11.85.

MeiraGTx (NASDAQ:MGTX) last announced its earnings results on Thursday, May 14th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.04. The firm had revenue of $0.29 million during the quarter, compared to analysts’ expectations of $17.00 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 151.12%. Sell-side analysts predict that MeiraGTx Holdings PLC will post -1.55 earnings per share for the current fiscal year.

Insider Transactions at MeiraGTx

In other news, insider Stuart Naylor sold 27,661 shares of MeiraGTx stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $9.36, for a total value of $258,906.96. Following the completion of the transaction, the insider owned 668,505 shares in the company, valued at approximately $6,257,206.80. The trade was a 3.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Giroux sold 56,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $10.22, for a total value of $572,320.00. Following the completion of the transaction, the chief financial officer owned 971,530 shares of the company’s stock, valued at approximately $9,929,036.60. This trade represents a 5.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 207,661 shares of company stock worth $1,859,187. 7.50% of the stock is currently owned by company insiders.

About MeiraGTx

MeiraGTx Holdings plc is a clinical-stage biotechnology company dedicated to developing gene therapies for the treatment of rare diseases. Founded in 2014 as an outgrowth of research at University College London, the company focuses on leveraging adeno-associated virus (AAV) vectors to deliver functional genes to target tissues. MeiraGTx’s pipeline spans ocular, central nervous system and systemic indications, addressing conditions such as inherited retinal dystrophies and neurodegenerative disorders that currently lack effective therapies.

The company’s lead programs include AAV-based candidates designed to restore or replace defective genes underlying rare retinal diseases and to modulate cellular pathways in neurological disorders.