MeiraGTx Holdings PLC $MGTX Shares Purchased by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH increased its stake in MeiraGTx Holdings PLC by 17.9% during Q1, holding a total of 789,702 shares valued at approximately $5.37 million.
• Analysts have upgraded MeiraGTx's consensus rating to "Buy" with an average target price of $24.00, reflecting positive sentiment in the market.
• Insider transactions included CEO Alexandria Forbes selling 47,500 shares for $378,575, decreasing her ownership by 3.37%.

Erste Asset Management GmbH increased its position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 17.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 789,702 shares of the company's stock after acquiring an additional 120,000 shares during the period. Erste Asset Management GmbH owned approximately 0.99% of MeiraGTx worth $5,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Sanofi purchased a new position in shares of MeiraGTx in the fourth quarter worth $74,284,000. Woodline Partners LP purchased a new position in shares of MeiraGTx in the fourth quarter worth approximately $9,349,000. Invesco Ltd. increased its holdings in MeiraGTx by 1,628.7% in the 1st quarter. Invesco Ltd. now owns 350,401 shares of the company's stock worth $2,376,000 after acquiring an additional 330,131 shares in the last quarter. Long Focus Capital Management LLC bought a new stake in shares of MeiraGTx during the fourth quarter valued at approximately $1,156,000. Finally, Nuveen LLC bought a new stake in shares of MeiraGTx in the first quarter worth about $1,012,000. Hedge funds and other institutional investors own 67.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MGTX. Chardan Capital restated a "buy" rating and issued a $35.00 price target on shares of MeiraGTx in a research report on Friday, August 15th. Wall Street Zen raised MeiraGTx from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, MeiraGTx presently has an average rating of "Buy" and an average target price of $24.00.

Insider Transactions at MeiraGTx

In related news, CEO Alexandria Forbes sold 47,500 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $7.97, for a total transaction of $378,575.00. Following the transaction, the chief executive officer directly owned 1,361,483 shares in the company, valued at approximately $10,851,019.51. The trade was a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard Giroux sold 24,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $8.52, for a total transaction of $204,480.00. Following the transaction, the chief financial officer owned 853,494 shares in the company, valued at $7,271,768.88. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.50% of the company's stock.

MeiraGTx Price Performance

Shares of MGTX stock traded down $0.06 on Tuesday, reaching $7.53. 33,240 shares of the company were exchanged, compared to its average volume of 524,495. The company has a market cap of $605.39 million, a price-to-earnings ratio of -3.69 and a beta of 1.25. The business has a 50-day moving average price of $7.72 and a 200 day moving average price of $6.77. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.88 and a current ratio of 0.88. MeiraGTx Holdings PLC has a 1 year low of $3.85 and a 1 year high of $8.98.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.48) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.04. The company had revenue of $3.69 million for the quarter, compared to analyst estimates of $8.00 million. MeiraGTx had a negative return on equity of 314.44% and a negative net margin of 415.39%. Equities research analysts forecast that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current fiscal year.

MeiraGTx Profile

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia.