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

Hennion & Walsh Asset Management Inc. boosted its position in MeiraGTx Holdings PLC (NASDAQ:MGTX) by 18.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 421,979 shares of the company’s stock after buying an additional 67,224 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in MeiraGTx were worth $5,701,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in 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 purchasing an additional 1,466 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of 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 buying an additional 7,005 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of MeiraGTx in the 4th quarter worth about $94,000. Abel Hall LLC purchased a new stake in shares of MeiraGTx in the 4th quarter worth about $98,000. Finally, Bank of Nova Scotia acquired a new stake in MeiraGTx in the 1st quarter valued at about $105,000. 67.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, CFO Richard Giroux sold 56,000 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were 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 of the company’s stock, valued at $11,365,710.30. This trade represents a 5.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,659 shares of MeiraGTx stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $14.80, for a total transaction of $409,353.20. Following the sale, the insider owned 640,846 shares of the company’s stock, valued at approximately $9,484,520.80. This trade represents a 4.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 145,659 shares of company stock worth $1,678,453. Corporate insiders own 7.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MGTX shares. Piper Sandler raised 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 upped their price target on shares of MeiraGTx from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research report on Friday, July 17th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of MeiraGTx in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, MeiraGTx currently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

MeiraGTx Price Performance

Shares of NASDAQ:MGTX opened at $13.07 on Monday. The company has a market capitalization of $1.21 billion, a P/E ratio of -8.83 and a beta of 1.23. MeiraGTx Holdings PLC has a 52-week low of $6.62 and a 52-week high of $15.35. The stock’s fifty day simple moving average is $11.73 and its 200-day simple moving average is $9.65.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.04. The company had revenue of $0.29 million for the quarter, compared to analysts’ expectations of $17.00 million. On average, sell-side analysts anticipate that MeiraGTx Holdings PLC will post -1.69 earnings per share 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.