MeiraGTx Holdings PLC $MGTX Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) by 18.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 421,979 shares of the company’s stock after acquiring an additional 67,224 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.46% of MeiraGTx worth $5,701,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in shares of MeiraGTx by 43.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after purchasing an additional 1,466 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of 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 purchasing an additional 7,005 shares during the period. ProShare Advisors LLC acquired a new stake in shares of MeiraGTx during the fourth quarter worth $94,000. Bank of Nova Scotia purchased a new position in MeiraGTx in the 1st quarter valued at $105,000. Finally, Abel Hall LLC purchased a new position in MeiraGTx in the 4th quarter valued at $98,000. 67.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MeiraGTx

In related news, CEO Alexandria Forbes sold 62,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $9.17, for a total value of $568,540.00. Following the completion of the sale, the chief executive officer owned 1,387,695 shares in the company, valued at $12,725,163.15. This trade represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 dated Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total transaction of $700,560.00. Following the sale, the chief financial officer directly owned 908,530 shares in the company, valued at approximately $11,365,710.30. This represents a 5.81% 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. Insiders have sold a total of 145,659 shares of company stock valued at $1,678,453 in the last ninety days. 7.40% of the stock is currently owned by company insiders.

MeiraGTx Price Performance

Shares of MGTX stock opened at $13.07 on Monday. The business’s fifty day moving average price is $11.73 and its 200 day moving average price is $9.65. MeiraGTx Holdings PLC has a 1-year low of $6.62 and a 1-year high of $15.35. The firm has a market capitalization of $1.21 billion, a PE ratio of -8.83 and a beta of 1.23.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.04. The business had revenue of $0.29 million during the quarter, compared to analysts’ expectations of $17.00 million. Equities research analysts expect that MeiraGTx Holdings PLC will post -1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MGTX shares. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of MeiraGTx in a research report on Wednesday, July 8th. Piper Sandler lifted their target price on shares of MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada boosted their price target on shares of MeiraGTx from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

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.