Squarepoint Ops LLC Has $2.19 Million Holdings in MeiraGTx Holdings PLC $MGTX

Key Points

• Squarepoint Ops LLC increased its MeiraGTx stake by 773.9% during the second quarter, ending with 162,412 shares valued at approximately $2.19 million. Institutional investors collectively own 67.48% of MGTX.
• Company insiders sold shares under pre-arranged Rule 10b5-1 plans, including 56,000 shares by the CFO and 62,000 shares by the CEO; insiders sold 145,659 shares worth about $1.97 million over the quarter.
• Analyst sentiment remains generally positive, with an average “Buy” rating and a consensus price target of $26.17. MGTX recently reported quarterly EPS of $1.71, well above the expected loss of $0.46, and revenue of $321.43 million.

Squarepoint Ops LLC increased its stake in MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) by 773.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,412 shares of the company's stock after acquiring an additional 143,828 shares during the quarter. Squarepoint Ops LLC owned 0.17% of MeiraGTx worth $2,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGTX. Algert Global LLC boosted its holdings in 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 last quarter. ProShare Advisors LLC purchased a new stake in MeiraGTx during the 4th quarter valued at about $94,000. Bank of Nova Scotia bought a new position in MeiraGTx during the first quarter valued at approximately $105,000. Perigon Wealth Management LLC purchased a new position in MeiraGTx during the second quarter valued at approximately $203,000. Finally, Arizona State Retirement System bought a new position in shares of MeiraGTx during the 2nd quarter valued at about $207,000. Institutional investors own 67.48% of the company's stock.

Insider Buying and Selling

In related news, CFO Richard Giroux sold 56,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total value of $700,560.00. Following the transaction, the chief financial officer owned 908,530 shares of the company's stock, valued at $11,365,710.30. This represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alexandria Forbes sold 62,000 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $13.86, for a total transaction of $859,320.00. Following the completion of the sale, the chief executive officer directly owned 1,325,695 shares of the company's stock, valued at $18,374,132.70. This trade represents a 4.47% 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. Over the last quarter, insiders have sold 145,659 shares of company stock worth $1,969,233. Corporate insiders own 7.40% of the company's stock.

Analyst Upgrades and Downgrades

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

MeiraGTx Trading Up 0.7%

Shares of MGTX opened at $12.88 on Tuesday. The business's 50-day moving average price is $13.18 and its 200 day moving average price is $10.77. 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 has a market capitalization of $1.24 billion, a P/E ratio of 18.14 and a beta of 1.27. MeiraGTx Holdings PLC has a 1-year low of $6.62 and a 1-year high of $15.35.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $1.71 earnings per share for the quarter, beating 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 company had revenue of $321.43 million for the quarter, compared to the consensus estimate of $0.70 million. Analysts expect that MeiraGTx Holdings PLC will post 0.3 earnings per share for the current year.

MeiraGTx Company Profile

MeiraGTx Holdings plc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases with limited treatment options. The company uses adeno-associated virus (AAV) vectors and other genetic medicine technologies to deliver therapeutic genes to targeted tissues, with an emphasis on disorders affecting the central nervous system, the eye and other organs.

MeiraGTx's pipeline has included botaretigene sparoparvovec, an investigational AAV-based gene therapy for X-linked retinitis pigmentosa caused by mutations in the RPGR gene.

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