MeiraGTx Holdings PLC $MGTX Shares Sold by Prosight Management LP

Prosight Management LP trimmed its holdings in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) by 10.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,089,509 shares of the company’s stock after selling 497,914 shares during the period. MeiraGTx makes up about 7.8% of Prosight Management LP’s investment portfolio, making the stock its 2nd biggest position. Prosight Management LP owned 5.08% of MeiraGTx worth $33,657,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in MeiraGTx by 43.8% in the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after purchasing an additional 1,466 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of MeiraGTx in the 3rd quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised 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 buying an additional 7,005 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of MeiraGTx in the 3rd quarter worth approximately $189,000. Finally, GSA Capital Partners LLP bought a new position in shares of MeiraGTx during the 3rd quarter worth approximately $203,000. Institutional investors own 67.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank Of Canada boosted their price target on MeiraGTx from $12.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of MeiraGTx from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. HC Wainwright started coverage on shares of MeiraGTx in a report on Monday, November 24th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Zacks Research upgraded shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

MeiraGTx Stock Down 3.3%

NASDAQ MGTX opened at $7.39 on Friday. The stock’s 50 day simple moving average is $7.57 and its 200 day simple moving average is $7.94. MeiraGTx Holdings PLC has a one year low of $4.55 and a one year high of $9.73. The firm has a market cap of $594.82 million, a PE ratio of -3.50 and a beta of 1.37. 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 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.