AMH Equity Ltd Invests $658,000 in MeiraGTx Holdings PLC $MGTX

AMH Equity Ltd acquired a new stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,000 shares of the company’s stock, valued at approximately $658,000. AMH Equity Ltd owned about 0.10% of MeiraGTx as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in shares of MeiraGTx during the 3rd quarter valued at $33,000. BNP Paribas Financial Markets increased its holdings in shares of 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 buying an additional 1,466 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of 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 purchasing an additional 7,005 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of MeiraGTx in the 2nd quarter worth about $61,000. Finally, Hobbs Group Advisors LLC purchased a new stake in MeiraGTx in the second quarter worth $93,000. Institutional investors own 67.48% of the company’s stock.

MeiraGTx Trading Down 3.5%

NASDAQ MGTX opened at $7.42 on Friday. The company has a market capitalization of $597.24 million, a price-to-earnings ratio of -3.52 and a beta of 1.38. The company’s fifty day moving average price is $8.02 and its two-hundred day moving average price is $8.07. The company has a debt-to-equity ratio of 26.29, a current ratio of 0.22 and a quick ratio of 0.22. MeiraGTx Holdings PLC has a 12 month low of $4.55 and a 12 month high of $9.73.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.12). The firm had revenue of $0.41 million during the quarter, compared to analyst estimates of $7.71 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 615.27%. As a group, research analysts predict that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at MeiraGTx

In other news, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $8.87, for a total value of $212,880.00. Following the completion of the transaction, the chief financial officer directly owned 829,494 shares of the company’s stock, valued at approximately $7,357,611.78. The trade was a 2.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MGTX shares. Piper Sandler boosted their target price on shares of MeiraGTx from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Raymond James Financial initiated coverage on shares of MeiraGTx in a report on Tuesday, October 21st. They set a “strong-buy” rating and a $29.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research report on Wednesday, October 8th. HC Wainwright assumed coverage on MeiraGTx in a report on Monday, November 24th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $35.00 target price on shares of MeiraGTx in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.00.

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.