Perceptive Advisors LLC Has $82.09 Million Stake in MeiraGTx Holdings PLC $MGTX

Perceptive Advisors LLC trimmed its stake in MeiraGTx Holdings PLC (NASDAQ:MGTX) by 18.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,326,103 shares of the company’s stock after selling 2,300,000 shares during the period. MeiraGTx comprises about 1.5% of Perceptive Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Perceptive Advisors LLC owned about 12.83% of MeiraGTx worth $82,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. grew its position in MeiraGTx by 183.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 308,509 shares of the company’s stock worth $2,453,000 after purchasing an additional 199,528 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of MeiraGTx during the 4th quarter valued at about $2,371,000. Royce & Associates LP acquired a new stake in shares of MeiraGTx during the 4th quarter valued at about $1,400,000. Erste Asset Management GmbH boosted its position in shares of MeiraGTx by 11.3% during the 4th quarter. Erste Asset Management GmbH now owns 789,702 shares of the company’s stock valued at $6,275,000 after acquiring an additional 80,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of 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 acquiring an additional 7,005 shares in the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.

MeiraGTx Stock Up 7.2%

MeiraGTx stock opened at $10.41 on Thursday. The stock has a market capitalization of $964.07 million, a PE ratio of -7.03 and a beta of 1.26. MeiraGTx Holdings PLC has a twelve month low of $6.07 and a twelve month high of $11.85. The company has a 50 day moving average of $9.65 and a 200-day moving average of $8.48.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.04. The company had revenue of $0.29 million during the quarter, compared to analysts’ expectations of $17.00 million. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%. Equities analysts anticipate that MeiraGTx Holdings PLC will post -1.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MGTX. Piper Sandler lifted their target price on shares of MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research report on Tuesday, April 21st. Bank of America lifted their target price on shares of MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Finally, HC Wainwright reiterated a “buy” rating on shares of MeiraGTx in a research report on Tuesday, May 26th. One equities research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Insider Activity

In other news, CEO Alexandria Forbes sold 62,000 shares of the company’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 value of $459,420.00. Following the completion of the transaction, the chief executive officer owned 1,449,695 shares in the company, valued at $10,742,239.95. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Giroux sold 56,000 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $10.22, for a total transaction of $572,320.00. Following the transaction, the chief financial officer owned 971,530 shares of the company’s stock, valued at $9,929,036.60. The trade was a 5.45% 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 207,661 shares of company stock worth $1,859,187 over the last quarter. 7.40% of the stock is currently owned by company insiders.

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.