Sei Investments Co. Buys Shares of 99,627 MeiraGTx Holdings PLC $MGTX

Sei Investments Co. purchased a new position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 99,627 shares of the company’s stock, valued at approximately $863,000.

A number of other institutional investors also recently made changes to their positions in MGTX. BNP Paribas Financial Markets raised 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 in 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 in the last quarter. ProShare Advisors LLC bought a new position in MeiraGTx during the 4th quarter valued at $94,000. Abel Hall LLC acquired a new position in shares of MeiraGTx during the 4th quarter valued at $98,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of MeiraGTx during the 4th quarter valued at $176,000. 67.48% of the stock is owned by institutional investors and hedge funds.

MeiraGTx Stock Performance

Shares of NASDAQ:MGTX opened at $12.67 on Friday. The company has a market capitalization of $1.17 billion, a PE ratio of -8.56 and a beta of 1.23. The stock has a fifty day moving average of $12.00 and a 200-day moving average of $9.80. MeiraGTx Holdings PLC has a one year low of $6.62 and a one year high of $15.35.

MeiraGTx (NASDAQ:MGTX) last announced its earnings results on Thursday, August 13th. The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $2.17. The company had revenue of $321.43 million for the quarter, compared to analyst estimates of $0.70 million. As a group, research analysts forecast that MeiraGTx Holdings PLC will post -1.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MGTX shares. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a report on Friday, July 17th. Piper Sandler lifted their target price on MeiraGTx from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of MeiraGTx in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada raised their price objective on shares of MeiraGTx from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MeiraGTx has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Insider Buying and Selling

In other MeiraGTx news, insider Stuart Naylor sold 27,659 shares of the business’s 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 in the company, valued at approximately $9,484,520.80. The trade was a 4.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alexandria Forbes sold 62,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $9.17, for a total value of $568,540.00. Following the sale, the chief executive officer owned 1,387,695 shares in the company, valued at approximately $12,725,163.15. The trade was a 4.28% decrease in their position. 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 quarter, insiders have sold 145,659 shares of company stock valued at $1,678,453. 7.40% of the stock is owned by corporate insiders.

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.