Perceptive Advisors LLC Has $82.09 Million Stock Position in MeiraGTx Holdings PLC $MGTX

Perceptive Advisors LLC lowered its stake in MeiraGTx Holdings PLC (NASDAQ:MGTX) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,326,103 shares of the company’s stock after selling 2,300,000 shares during the quarter. MeiraGTx makes up approximately 1.5% of Perceptive Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Perceptive Advisors LLC owned approximately 0.13% of MeiraGTx worth $82,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of 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 last quarter. Tower Research Capital LLC TRC lifted its stake 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 last quarter. ProShare Advisors LLC acquired a new stake in MeiraGTx in the fourth quarter valued at $94,000. Abel Hall LLC acquired a new stake in MeiraGTx in the fourth quarter valued at $98,000. Finally, Perigon Wealth Management LLC acquired a new stake in MeiraGTx in the fourth quarter valued at $119,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

Insider Activity

In other news, CEO Alexandria Forbes sold 62,000 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $7.41, for a total value of $459,420.00. Following the transaction, the chief executive officer directly owned 1,449,695 shares of the company’s stock, valued at $10,742,239.95. This represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stuart Naylor sold 27,661 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $9.36, for a total transaction of $258,906.96. Following the completion of the transaction, the insider directly owned 668,505 shares in the company, valued at $6,257,206.80. The trade was a 3.97% 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. Insiders have sold 207,661 shares of company stock valued at $1,859,187 over the last ninety days. 7.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Chardan Capital reiterated a “buy” rating and issued a $35.00 price target on shares of MeiraGTx in a research note on Friday, March 27th. Zacks Research upgraded shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Wall Street Zen upgraded shares of MeiraGTx from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. HC Wainwright reiterated a “buy” rating on shares of MeiraGTx in a research note on Tuesday, May 26th. Finally, Bank of America increased their price target on shares of MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, MeiraGTx currently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

MeiraGTx Price Performance

Shares of MGTX opened at $10.41 on Thursday. The firm has a market capitalization of $964.07 million, a PE ratio of -7.03 and a beta of 1.26. The company’s 50-day moving average is $9.65 and its 200-day moving average is $8.48. MeiraGTx Holdings PLC has a fifty-two week low of $6.07 and a fifty-two week high of $11.85.

MeiraGTx (NASDAQ:MGTX) last issued 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. The company had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%. Analysts predict that MeiraGTx Holdings PLC will post -1.55 earnings per share for the current fiscal year.

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.