Erste Asset Management GmbH Grows Position in MeiraGTx Holdings PLC $MGTX

Erste Asset Management GmbH raised its position in MeiraGTx Holdings PLC (NASDAQ:MGTX) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 789,702 shares of the company’s stock after acquiring an additional 80,000 shares during the quarter. Erste Asset Management GmbH owned approximately 0.98% of MeiraGTx worth $6,275,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in MeiraGTx by 43.8% in the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after acquiring an additional 1,466 shares during the period. Tower Research Capital LLC TRC lifted its holdings in MeiraGTx by 390.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after acquiring an additional 7,005 shares during the period. ProShare Advisors LLC bought a new position in MeiraGTx in the fourth quarter valued at about $94,000. Perigon Wealth Management LLC bought a new position in MeiraGTx in the fourth quarter valued at about $119,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in MeiraGTx in the fourth quarter valued at about $176,000. Institutional investors own 67.48% of the company’s stock.

MeiraGTx Stock Up 1.3%

NASDAQ MGTX opened at $9.21 on Wednesday. The stock’s 50-day moving average price is $9.56 and its 200-day moving average price is $8.40. MeiraGTx Holdings PLC has a 52 week low of $6.07 and a 52 week high of $11.85. The company has a market capitalization of $852.94 million, a P/E ratio of -6.22 and a beta of 1.26.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.04. The business had revenue of $0.29 million for 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%. Research analysts anticipate that MeiraGTx Holdings PLC will post -1.55 EPS for the current year.

Insider Buying and Selling

In related news, CEO Alexandria Forbes sold 62,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.17, for a total value of $568,540.00. Following the transaction, the chief executive officer directly owned 1,387,695 shares of the company’s stock, valued at approximately $12,725,163.15. The trade was a 4.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Giroux sold 56,000 shares of the business’s 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 directly owned 971,530 shares in the company, valued at approximately $9,929,036.60. This represents a 5.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 207,661 shares of company stock worth $1,859,187. 7.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MGTX. Wall Street Zen raised MeiraGTx from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. Royal Bank Of Canada increased their target price on MeiraGTx from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, May 15th. HC Wainwright reissued a “buy” rating on shares of MeiraGTx in a report on Tuesday, May 26th. Bank of America increased their target price on MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, March 27th. Finally, Piper Sandler increased their target price on MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

MeiraGTx Profile

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.