683 Capital Management LLC Sells 65,918 Shares of MeiraGTx Holdings PLC $MGTX

683 Capital Management LLC lowered its holdings in MeiraGTx Holdings PLC (NASDAQ:MGTX) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,559,082 shares of the company’s stock after selling 65,918 shares during the quarter. MeiraGTx accounts for about 0.9% of 683 Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. 683 Capital Management LLC owned about 3.18% of MeiraGTx worth $20,345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after buying an additional 1,466 shares during the last quarter. Kennedy Capital Management LLC grew its stake in MeiraGTx by 2.2% during the fourth quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company’s stock worth $562,000 after buying an additional 1,495 shares during the last quarter. Russell Investments Group Ltd. grew its stake in MeiraGTx by 4.3% during the third quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock worth $682,000 after buying an additional 3,452 shares during the last quarter. Rhumbline Advisers grew its stake in MeiraGTx by 9.4% during the second quarter. Rhumbline Advisers now owns 63,715 shares of the company’s stock worth $415,000 after buying an additional 5,488 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in MeiraGTx by 390.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock worth $57,000 after buying an additional 7,005 shares during the last quarter. Institutional investors own 67.48% of the company’s stock.

Insider Activity at MeiraGTx

In related news, insider Stuart Naylor sold 27,661 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $9.36, for a total value of $258,906.96. Following the transaction, the insider directly owned 668,505 shares in the company, valued at $6,257,206.80. This represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alexandria Forbes sold 62,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $7.41, for a total transaction of $459,420.00. Following the completion of the transaction, the chief executive officer owned 1,449,695 shares in the company, valued at $10,742,239.95. This represents a 4.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 207,661 shares of company stock worth $1,859,187 over the last ninety days. Company insiders own 7.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on MGTX shares. Wall Street Zen raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. Piper Sandler upped their price objective on shares of MeiraGTx from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. HC Wainwright reaffirmed a “buy” rating on shares of MeiraGTx in a research note on Tuesday, May 26th. Zacks Research raised shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Bank of America upped their price objective on shares of MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a research note 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 assigned a Sell rating to the stock. According to MarketBeat.com, MeiraGTx has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

MeiraGTx Price Performance

MGTX opened at $10.41 on Thursday. The company’s 50 day simple moving average is $9.65 and its 200-day simple moving average is $8.48. MeiraGTx Holdings PLC has a one year low of $6.07 and a one year high of $11.85. The stock has a market capitalization of $964.07 million, a P/E ratio of -7.03 and a beta of 1.26.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.04. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%. The business had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million. As a group, analysts anticipate that MeiraGTx Holdings PLC will post -1.55 EPS for the current year.

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.