Squarepoint Ops LLC Purchases 143,828 Shares of MeiraGTx Holdings PLC $MGTX

Squarepoint Ops LLC raised its position in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) by 773.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 162,412 shares of the company’s stock after purchasing an additional 143,828 shares during the quarter. Squarepoint Ops LLC’s holdings in MeiraGTx were worth $2,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. ProShare Advisors LLC acquired a new position in MeiraGTx during the fourth quarter valued at approximately $94,000. Bank of Nova Scotia bought a new position in MeiraGTx during the 1st quarter valued at $105,000. Algert Global LLC boosted its position in shares of MeiraGTx by 13.9% during the 2nd quarter. Algert Global LLC now owns 11,700 shares of the company’s stock valued at $158,000 after purchasing an additional 1,430 shares in the last quarter. Perigon Wealth Management LLC purchased a new position in MeiraGTx in the 2nd quarter worth about $203,000. Finally, Arizona State Retirement System acquired a new position in MeiraGTx during the second quarter valued at $207,000. 67.48% of the stock is owned by hedge funds and other institutional investors.

MeiraGTx Trading Up 0.7%

Shares of NASDAQ MGTX opened at $12.88 on Tuesday. MeiraGTx Holdings PLC has a 1-year low of $6.62 and a 1-year high of $15.35. The company has a 50-day moving average of $13.18 and a two-hundred day moving average of $10.77. The company has a market cap of $1.24 billion, a PE ratio of 18.14 and a beta of 1.27. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.46.

MeiraGTx (NASDAQ:MGTX) last released 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 business had revenue of $321.43 million for the quarter, compared to analysts’ expectations of $0.70 million. MeiraGTx had a net margin of 19.87% and a return on equity of 283.85%. As a group, equities analysts expect that MeiraGTx Holdings PLC will post 0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx 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 directly owned 908,530 shares in the company, valued at approximately $11,365,710.30. This trade represents a 5.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,659 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $14.80, for a total value of $409,353.20. Following the sale, the insider owned 640,846 shares of the company’s stock, valued at approximately $9,484,520.80. The trade was a 4.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 145,659 shares of company stock worth $1,969,233. Insiders own 7.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MGTX. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a report on Friday, July 17th. Wall Street Zen raised shares of MeiraGTx from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Royal Bank Of Canada increased their price target on shares of MeiraGTx from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Zacks Research upgraded MeiraGTx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of MeiraGTx in a research note on Wednesday, July 8th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $26.17.

MeiraGTx 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.