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

Key Points

• Sei Investments acquired 99,627 MeiraGTx shares worth approximately $863,000, while other institutional investors also increased holdings. Institutions collectively own 67.48% of MGTX.
• Insiders sold 145,659 shares worth about $1.68 million over the past three months, including sales by CEO Alexandria Forbes and insider Stuart Naylor under pre-arranged Rule 10b5-1 plans.
• MGTX opened at $12.67, below its 52-week high of $15.35. Analysts maintain a “Moderate Buy” consensus with an average price target of $26, while the company reported quarterly EPS of $1.71, exceeding estimates.

Sei Investments Co. bought a new position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 99,627 shares of the company's stock, valued at approximately $863,000. Sei Investments Co. owned 0.11% of MeiraGTx as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. AlphaCentric Advisors LLC boosted its holdings in shares of MeiraGTx by 88.4% in the 1st quarter. AlphaCentric Advisors LLC now owns 53,694 shares of the company's stock valued at $465,000 after buying an additional 25,198 shares during the period. Hsbc Holdings PLC raised its stake in MeiraGTx by 67.2% during the first quarter. Hsbc Holdings PLC now owns 39,787 shares of the company's stock worth $338,000 after acquiring an additional 15,995 shares during the period. Invesco Ltd. raised its stake in MeiraGTx by 30.8% during the fourth quarter. Invesco Ltd. now owns 90,881 shares of the company's stock worth $723,000 after acquiring an additional 21,381 shares during the period. XTX Topco Ltd lifted its holdings in MeiraGTx by 11.0% in the fourth quarter. XTX Topco Ltd now owns 38,030 shares of the company's stock worth $302,000 after acquiring an additional 3,766 shares during the last quarter. Finally, VARCOV Co. bought a new position in MeiraGTx in the fourth quarter worth about $262,000. 67.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Alexandria Forbes sold 62,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.17, for a total value of $568,540.00. Following the completion of the transaction, the chief executive officer directly owned 1,387,695 shares of the company's stock, valued at $12,725,163.15. This represents a 4.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,659 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $14.80, for a total value of $409,353.20. Following the completion of the sale, the insider owned 640,846 shares in the company, valued at approximately $9,484,520.80. This represents a 4.14% decrease in their ownership of the stock. 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 sold 145,659 shares of company stock valued at $1,678,453 in the last three months. 7.40% of the stock is currently owned by corporate insiders.

MeiraGTx Stock Down 2.2%

MeiraGTx stock opened at $12.67 on Friday. MeiraGTx Holdings PLC has a 52-week low of $6.62 and a 52-week high of $15.35. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -8.56 and a beta of 1.23. The firm has a 50-day moving average price of $12.00 and a two-hundred day moving average price of $9.80.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.71 EPS for the quarter, beating the consensus estimate of ($0.46) by $2.17. The firm had revenue of $321.43 million during the quarter, compared to analyst estimates of $0.70 million. Research analysts expect that MeiraGTx Holdings PLC will post -1.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on MGTX shares. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of MeiraGTx in a research note on Wednesday, July 8th. Royal Bank Of Canada increased their price target on MeiraGTx from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Piper Sandler raised their price target on MeiraGTx from $26.00 to $30.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of MeiraGTx in a research report on Friday, July 17th. One 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 given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $26.00.

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.

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