WEBULL

MaaT Pharma SA's (EPA:MAAT) largest shareholders are private equity firms who were rewarded as market cap surged €15m last week

Simply Wall St · 6d ago

Key Insights

  • The considerable ownership by private equity firms in MaaT Pharma indicates that they collectively have a greater say in management and business strategy
  • 51% of the business is held by the top 3 shareholders
  • Institutional ownership in MaaT Pharma is 16%

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To get a sense of who is truly in control of MaaT Pharma SA (EPA:MAAT), it is important to understand the ownership structure of the business. With 33% stake, private equity firms possess the maximum shares in the company. Put another way, the group faces the maximum upside potential (or downside risk).

Clearly, private equity firms benefitted the most after the company's market cap rose by €15m last week.

Let's delve deeper into each type of owner of MaaT Pharma, beginning with the chart below.

View our latest analysis for MaaT Pharma

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ENXTPA:MAAT Ownership Breakdown January 5th 2026

What Does The Institutional Ownership Tell Us About MaaT Pharma?

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

As you can see, institutional investors have a fair amount of stake in MaaT Pharma. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of MaaT Pharma, (below). Of course, keep in mind that there are other factors to consider, too.

earnings-and-revenue-growth
ENXTPA:MAAT Earnings and Revenue Growth January 5th 2026

MaaT Pharma is not owned by hedge funds. Looking at our data, we can see that the largest shareholder is BIOCODEX - Incubação de Empresas de Ciências da Vida, S.A. with 18% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 17% and 16%, of the shares outstanding, respectively. Furthermore, CEO Herve Affagard is the owner of 1.7% of the company's shares.

To make our study more interesting, we found that the top 3 shareholders have a majority ownership in the company, meaning that they are powerful enough to influence the decisions of the company.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.

Insider Ownership Of MaaT Pharma

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.

We can report that insiders do own shares in MaaT Pharma SA. It has a market capitalization of just €90m, and insiders have €1.5m worth of shares, in their own names. It is good to see some investment by insiders, but we usually like to see higher insider holdings. It might be worth checking if those insiders have been buying.

General Public Ownership

With a 27% ownership, the general public, mostly comprising of individual investors, have some degree of sway over MaaT Pharma. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Private Equity Ownership

Private equity firms hold a 33% stake in MaaT Pharma. This suggests they can be influential in key policy decisions. Sometimes we see private equity stick around for the long term, but generally speaking they have a shorter investment horizon and -- as the name suggests -- don't invest in public companies much. After some time they may look to sell and redeploy capital elsewhere.

Private Company Ownership

It seems that Private Companies own 22%, of the MaaT Pharma stock. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.

Next Steps:

I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. For example, we've discovered 4 warning signs for MaaT Pharma that you should be aware of before investing here.

If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.