MeiraGTx Holdings PLC $MGTX Stake Reduced by Erste Asset Management GmbH

Erste Asset Management GmbH cut its stake in MeiraGTx Holdings PLC (NASDAQ:MGTX) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 709,702 shares of the company’s stock after selling 80,000 shares during the period. Erste Asset Management GmbH owned 0.88% of MeiraGTx worth $5,855,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MGTX. State of Alaska Department of Revenue bought a new position in shares of MeiraGTx during the third quarter worth about $33,000. BNP Paribas Financial Markets lifted its position in 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 boosted its stake in MeiraGTx by 390.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after purchasing an additional 7,005 shares during the period. Fox Run Management L.L.C. bought a new position in MeiraGTx in the 3rd quarter worth about $189,000. Finally, GSA Capital Partners LLP bought a new position in MeiraGTx in the 3rd quarter worth about $203,000. 67.48% of the stock is currently owned by institutional investors.

MeiraGTx Stock Performance

Shares of NASDAQ MGTX opened at $7.56 on Friday. MeiraGTx Holdings PLC has a 1 year low of $4.55 and a 1 year high of $9.73. The firm has a market cap of $608.50 million, a P/E ratio of -3.58 and a beta of 1.37. The stock has a fifty day moving average price of $7.69 and a two-hundred day moving average price of $7.97. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.22 and a current ratio of 0.22.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MGTX shares. HC Wainwright began coverage on MeiraGTx in a report on Monday, November 24th. They set a “buy” rating and a $20.00 price target on the stock. Wall Street Zen downgraded MeiraGTx from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Piper Sandler boosted their price target on MeiraGTx from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. Finally, Zacks Research cut shares of MeiraGTx from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, MeiraGTx presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

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.