Tocqueville Asset Management L.P. Purchases New Shares in MeiraGTx Holdings PLC $MGTX

Tocqueville Asset Management L.P. acquired a new position in MeiraGTx Holdings PLC (NASDAQ:MGTX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 77,700 shares of the company’s stock, valued at approximately $1,050,000.

Several other large investors also recently made changes to their positions in MGTX. BlackRock Inc. acquired a new stake in shares of MeiraGTx in the second quarter valued at $64,269,000. Deutsche Bank AG acquired a new position in MeiraGTx during the 2nd quarter worth about $805,000. Perigon Wealth Management LLC bought a new stake in MeiraGTx during the 2nd quarter worth about $203,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in MeiraGTx in the 2nd quarter valued at about $331,000. Finally, Bank of New York Mellon Corp bought a new position in shares of MeiraGTx in the second quarter worth about $1,869,000. Institutional investors own 67.48% of the company’s stock.

Insider Activity

In related news, insider Stuart Naylor sold 27,659 shares of MeiraGTx stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $14.80, for a total transaction of $409,353.20. Following the transaction, the insider owned 640,846 shares of the company’s stock, valued at $9,484,520.80. This trade represents a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, July 21st. The shares were sold at an average price of $12.51, for a total transaction of $700,560.00. Following the transaction, the chief financial officer owned 908,530 shares of the company’s stock, 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 sold a total of 145,659 shares of company stock valued at $1,969,233 in the last ninety days. 7.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen raised shares of MeiraGTx from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of MeiraGTx in a research report on Wednesday, July 8th. Zacks Research raised MeiraGTx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research note on Friday, July 17th. Finally, Royal Bank Of Canada lifted their price objective on MeiraGTx from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $26.17.

MeiraGTx Stock Performance

MGTX stock opened at $14.54 on Friday. The business’s fifty day moving average is $12.49 and its 200-day moving average is $10.02. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.46. The company has a market cap of $1.40 billion, a P/E ratio of 20.48 and a beta of 1.23. MeiraGTx Holdings PLC has a twelve month low of $6.62 and a twelve month high of $15.35.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings data on Thursday, August 13th. The company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $2.17. MeiraGTx had a return on equity of 283.85% and a net margin of 19.87%.The business had revenue of $321.43 million during the quarter, compared to the consensus estimate of $0.70 million. Equities research analysts forecast that MeiraGTx Holdings PLC will post 0.3 EPS for the current year.

MeiraGTx Company 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.