Hennion & Walsh Asset Management Inc. Acquires 199,528 Shares of MeiraGTx Holdings PLC $MGTX

Hennion & Walsh Asset Management Inc. increased its stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) by 183.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,509 shares of the company’s stock after acquiring an additional 199,528 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in MeiraGTx were worth $2,453,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in shares of MeiraGTx in the third quarter valued at approximately $33,000. BNP Paribas Financial Markets boosted its holdings in MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after purchasing an additional 1,466 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in 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 last quarter. Fox Run Management L.L.C. bought a new position in MeiraGTx in the third quarter valued at $189,000. Finally, GSA Capital Partners LLP bought a new position in MeiraGTx in the third quarter valued at $203,000. 67.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research report on Thursday, January 22nd. Chardan Capital reissued a “buy” rating and set a $35.00 price target on shares of MeiraGTx in a research report on Friday, March 27th. Zacks Research upgraded MeiraGTx from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Bank of America boosted their price target on MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. Finally, Piper Sandler dropped their price objective on MeiraGTx from $30.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, March 27th. 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. According to data from MarketBeat, MeiraGTx currently has an average rating of “Moderate Buy” and a consensus price target of $23.67.

MeiraGTx Stock Performance

Shares of MGTX stock opened at $8.66 on Wednesday. MeiraGTx Holdings PLC has a 52 week low of $4.55 and a 52 week high of $9.73. The company has a market capitalization of $697.04 million, a price-to-earnings ratio of -6.10 and a beta of 1.37. The company has a 50-day simple moving average of $7.62 and a 200 day simple moving average of $7.96. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.22 and a current ratio of 0.22.

MeiraGTx (NASDAQ:MGTX) last announced its earnings results on Thursday, March 26th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.79. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 140.31%.The company had revenue of $75.36 million for the quarter, compared to analyst estimates of $3.87 million. On average, sell-side analysts predict that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current year.

Insider Buying and Selling at MeiraGTx

In related news, CEO Alexandria Forbes sold 62,000 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $7.41, for a total value of $459,420.00. Following the completion of the transaction, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 7.50% of the company’s stock.

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.