Jupiter Topco LLC Buys New Shares in MeiraGTx Holdings PLC $MGTX

Jupiter Topco LLC bought a new position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 475,757 shares of the company’s stock, valued at approximately $6,427,000. Jupiter Topco LLC owned approximately 0.51% of MeiraGTx as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new stake in shares of MeiraGTx during the 2nd quarter valued at $379,000. Legal & General Group Plc acquired a new position in shares of MeiraGTx in the 2nd quarter worth $443,000. The Manufacturers Life Insurance Company acquired a new stake in shares of MeiraGTx during the second quarter worth $230,000. Algert Global LLC raised its position in shares of MeiraGTx by 13.9% during the second quarter. Algert Global LLC now owns 11,700 shares of the company’s stock worth $158,000 after purchasing an additional 1,430 shares during the period. Finally, Ieq Capital LLC purchased a new stake in shares of MeiraGTx during the second quarter valued at $302,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

MeiraGTx Stock Performance

Shares of MGTX stock opened at $13.82 on Monday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 19.46 and a beta of 1.23. MeiraGTx Holdings PLC has a 1-year low of $6.62 and a 1-year high of $15.35. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $12.98 and its 200-day simple moving average is $10.30.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Thursday, August 13th. The company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $2.17. MeiraGTx had a return on equity of 283.85% and a net margin of 19.87%.The firm had revenue of $321.43 million during the quarter, compared to analyst estimates of $0.70 million. On average, sell-side analysts predict that MeiraGTx Holdings PLC will post 0.3 earnings per share for the current fiscal year.

Insider Activity at MeiraGTx

In other MeiraGTx news, CEO Alexandria Forbes sold 62,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $13.86, for a total value of $859,320.00. Following the completion of the sale, the chief executive officer owned 1,325,695 shares in the company, valued at $18,374,132.70. This represents a 4.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,659 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $14.80, for a total transaction of $409,353.20. Following the completion of the sale, the insider owned 640,846 shares of the company’s stock, valued at approximately $9,484,520.80. The trade was a 4.14% 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. Over the last three months, insiders have sold 145,659 shares of company stock valued at $1,969,233. Corporate insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research report on Friday, July 17th. Royal Bank Of Canada upped their price objective on shares of MeiraGTx from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of MeiraGTx in a report on Wednesday, July 8th. Zacks Research upgraded shares of MeiraGTx from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of MeiraGTx from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, MeiraGTx presently has a consensus rating of “Buy” and a consensus target price of $26.17.

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.