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

Hennion & Walsh Asset Management Inc. grew its position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) by 183.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 308,509 shares of the company’s stock after acquiring an additional 199,528 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.38% of MeiraGTx worth $2,453,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MGTX. AQR Capital Management LLC bought a new position in MeiraGTx in the 1st quarter worth approximately $557,000. Rhumbline Advisers grew its holdings in MeiraGTx by 9.4% during the second quarter. Rhumbline Advisers now owns 63,715 shares of the company’s stock worth $415,000 after acquiring an additional 5,488 shares during the period. Kennedy Capital Management LLC raised its position in MeiraGTx by 3.8% in the second quarter. Kennedy Capital Management LLC now owns 35,189 shares of the company’s stock worth $229,000 after acquiring an additional 1,287 shares in the last quarter. Brown Advisory Inc. acquired a new position in MeiraGTx in the second quarter worth approximately $326,000. Finally, 22NW LP acquired a new position in shares of MeiraGTx in the 2nd quarter valued at $3,824,000. Institutional investors own 67.48% of the company’s stock.

MeiraGTx Stock Performance

NASDAQ MGTX opened at $8.66 on Wednesday. MeiraGTx Holdings PLC has a twelve month low of $4.55 and a twelve month high of $9.73. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 26.29. The stock has a market cap of $697.04 million, a P/E ratio of -6.10 and a beta of 1.37. The company’s 50-day simple moving average is $7.62 and its 200 day simple moving average is $7.96.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Thursday, March 26th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.79. The firm had revenue of $75.36 million for the quarter, compared to analysts’ expectations of $3.87 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 140.31%. As a group, research analysts forecast that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current fiscal year.

Insider Activity at MeiraGTx

In related news, CEO Alexandria Forbes sold 62,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $7.41, for a total transaction of $459,420.00. Following the completion of the sale, the chief executive officer directly owned 1,449,695 shares of the company’s stock, valued at $10,742,239.95. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research report on Thursday, January 22nd. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 target price on shares of MeiraGTx in a research report on Friday, March 27th. Bank of America raised their price target on MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Piper Sandler dropped their price target on shares of MeiraGTx from $30.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, March 27th. Finally, Zacks Research upgraded shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.67.

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.