Jefferies Financial Group Inc. Buys New Stake in MeiraGTx Holdings PLC $MGTX

Jefferies Financial Group Inc. bought a new stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 298,242 shares of the company’s stock, valued at approximately $2,371,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MGTX. AQR Capital Management LLC acquired a new position in shares of MeiraGTx during the 1st quarter valued at $557,000. Rhumbline Advisers lifted its holdings in shares of MeiraGTx by 9.4% during the 2nd quarter. Rhumbline Advisers now owns 63,715 shares of the company’s stock valued at $415,000 after acquiring an additional 5,488 shares in the last quarter. Brown Advisory Inc. acquired a new position in shares of MeiraGTx during the 2nd quarter valued at $326,000. Qube Research & Technologies Ltd acquired a new position in shares of MeiraGTx during the 2nd quarter valued at $530,000. Finally, Quantinno Capital Management LP acquired a new position in shares of MeiraGTx during the 2nd quarter valued at $319,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Wall Street Zen upgraded shares of MeiraGTx from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. HC Wainwright reiterated a “buy” rating on shares of MeiraGTx in a report on Tuesday. Bank of America boosted their price objective on shares of MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a report on Tuesday, April 21st. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.83.

MeiraGTx Price Performance

Shares of MGTX stock opened at $9.60 on Wednesday. MeiraGTx Holdings PLC has a 12 month low of $5.02 and a 12 month high of $11.85. The firm has a market capitalization of $889.06 million, a P/E ratio of -6.49 and a beta of 1.23. The company’s fifty day moving average price is $9.15 and its two-hundred day moving average price is $8.30.

MeiraGTx (NASDAQ:MGTX) last issued 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. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%. The firm had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million. On average, sell-side analysts anticipate that MeiraGTx Holdings PLC will post -1.63 EPS for the current year.

Insider Transactions at MeiraGTx

In other news, CEO Alexandria Forbes sold 62,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were 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. This represents a 4.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,661 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $9.36, for a total transaction of $258,906.96. Following the completion of the sale, the insider owned 668,505 shares in the company, valued at approximately $6,257,206.80. This trade represents a 3.97% 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 90 days, insiders sold 207,661 shares of company stock valued at $1,859,187. Insiders own 7.50% of the company’s stock.

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.