MeiraGTx (NASDAQ:MGTX) CFO Richard Giroux Sells 56,000 Shares of Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) CFO Richard Giroux sold 56,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $12.51, for a total transaction of $700,560.00. Following the completion of the transaction, the chief financial officer owned 908,530 shares in the company, valued at approximately $11,365,710.30. This represents a 5.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MeiraGTx Trading Down 3.9%

NASDAQ MGTX opened at $11.82 on Wednesday. MeiraGTx Holdings PLC has a 1-year low of $6.62 and a 1-year high of $15.35. The company has a market capitalization of $1.09 billion, a PE ratio of -7.99 and a beta of 1.20. The firm’s fifty day simple moving average is $11.32 and its 200-day simple moving average is $9.38.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.04. The firm had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million. As a group, analysts predict that MeiraGTx Holdings PLC will post -1.53 EPS for the current year.

Institutional Trading of MeiraGTx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in 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 period. Tower Research Capital LLC TRC raised its position in shares of MeiraGTx by 390.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after buying an additional 7,005 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of MeiraGTx during the fourth quarter valued at about $94,000. Bank of Nova Scotia bought a new stake in shares of MeiraGTx in the first quarter valued at about $105,000. Finally, Abel Hall LLC bought a new stake in shares of MeiraGTx in the fourth quarter valued at about $98,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MGTX. Royal Bank Of Canada increased their price target on shares of MeiraGTx from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of MeiraGTx in a report on Wednesday, July 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a report on Friday, July 17th. Wall Street Zen raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, Piper Sandler raised their target price on MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.