Jefferies Financial Group Inc. Invests $2.37 Million in MeiraGTx Holdings PLC $MGTX

Key Points

• Jefferies Financial Group disclosed a new fourth-quarter position in MeiraGTx, buying 298,242 shares valued at about $2.37 million. The stake represented roughly 0.37% of the company.
• MeiraGTx shares were trading around $9.60, up 3.9% on the day, giving the company a market cap of about $889 million. The stock remains well below its 52-week high of $11.85 but above its low of $5.02.
• The company recently reported a smaller-than-expected quarterly loss of ($0.57) per share, though revenue of $0.29 million missed estimates by a wide margin. Analysts are generally constructive, with a Moderate Buy consensus and an average price target of $25.83.

Jefferies Financial Group Inc. acquired a new position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 298,242 shares of the company's stock, valued at approximately $2,371,000. Jefferies Financial Group Inc. owned approximately 0.37% of MeiraGTx at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MGTX. BNP Paribas Financial Markets grew its stake in MeiraGTx by 43.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company's stock worth $31,000 after acquiring an additional 1,466 shares during the period. Russell Investments Group Ltd. grew its stake in MeiraGTx by 4.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company's stock worth $682,000 after acquiring an additional 3,452 shares during the period. Rhumbline Advisers grew its stake in MeiraGTx by 9.4% in the 2nd quarter. Rhumbline Advisers now owns 63,715 shares of the company's stock worth $415,000 after acquiring an additional 5,488 shares during the period. Tower Research Capital LLC TRC grew its stake in MeiraGTx by 390.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company's stock worth $57,000 after acquiring an additional 7,005 shares during the period. Finally, UBS Group AG grew its stake in MeiraGTx by 11.9% in the 3rd quarter. UBS Group AG now owns 81,593 shares of the company's stock worth $672,000 after acquiring an additional 8,694 shares during the period. 67.48% of the stock is owned by hedge funds and other institutional investors.

MeiraGTx Stock Up 3.9%

Shares of MGTX opened at $9.60 on Wednesday. The firm has a market cap of $889.06 million, a PE ratio of -6.49 and a beta of 1.23. The company's fifty day moving average is $9.15 and its two-hundred day moving average is $8.30. MeiraGTx Holdings PLC has a fifty-two week low of $5.02 and a fifty-two week high of $11.85.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, beating analysts' consensus estimates of ($0.61) by $0.04. The company had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%. As a group, equities research analysts anticipate that MeiraGTx Holdings PLC will post -1.63 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. HC Wainwright reaffirmed a "buy" rating on shares of MeiraGTx in a research note on Tuesday. Chardan Capital reaffirmed a "buy" rating and issued a $35.00 target price on shares of MeiraGTx in a research note on Friday, March 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MeiraGTx in a research note on Tuesday, April 21st. Piper Sandler lifted their target price on shares of MeiraGTx from $26.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. Finally, Royal Bank Of Canada lifted their target price on shares of MeiraGTx from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.83.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, CEO Alexandria Forbes sold 62,000 shares of MeiraGTx stock in a transaction 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 transaction, the chief executive officer owned 1,449,695 shares in the company, valued at $10,742,239.95. This trade represents a 4.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stuart Naylor sold 27,661 shares of MeiraGTx stock in a transaction on 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 transaction, 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. Insiders have sold a total of 207,661 shares of company stock worth $1,859,187 in the last quarter. 7.50% of the stock is owned by insiders.

About MeiraGTx

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.

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