Jupiter Topco LLC Invests $6.43 Million in MeiraGTx Holdings PLC $MGTX

Jupiter Topco LLC purchased a new stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 475,757 shares of the company’s stock, valued at approximately $6,427,000.

Other institutional investors have also made changes to their positions in the company. Tocqueville Asset Management L.P. bought a new position in MeiraGTx during the second quarter valued at approximately $1,050,000. Jefferies Financial Group Inc. acquired a new stake in MeiraGTx in the fourth quarter valued at approximately $2,371,000. Johnson & Johnson bought a new stake in MeiraGTx in the second quarter worth approximately $89,720,775. Royce & Associates LP bought a new stake in MeiraGTx in the fourth quarter worth approximately $1,400,000. Finally, Sei Investments Co. acquired a new position in shares of MeiraGTx during the 1st quarter worth $863,000. 67.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

MeiraGTx Stock Performance

NASDAQ:MGTX opened at $13.82 on Monday. MeiraGTx Holdings PLC has a 12 month low of $6.62 and a 12 month high of $15.35. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 19.46 and a beta of 1.23. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $12.98 and its 200-day moving average is $10.30.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings data on Thursday, August 13th. The company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $2.17. MeiraGTx had a net margin of 19.87% and a return on equity of 283.85%. The business had revenue of $321.43 million during the quarter, compared to analysts’ expectations of $0.70 million. Equities analysts anticipate that MeiraGTx Holdings PLC will post 0.3 EPS for the current year.

Insider Buying and Selling

In other MeiraGTx news, CEO Alexandria Forbes sold 62,000 shares of the business’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 transaction, the chief executive officer owned 1,325,695 shares of the company’s stock, valued at $18,374,132.70. The trade was a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Giroux sold 56,000 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $12.51, for a total transaction of $700,560.00. Following the sale, the chief financial officer owned 908,530 shares of the company’s stock, valued at $11,365,710.30. This trade represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 145,659 shares of company stock worth $1,969,233 in the last quarter. 7.40% of the stock is currently owned by company insiders.

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.