MeiraGTx (NASDAQ:MGTX) Insider Stuart Naylor Sells 27,659 Shares of Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) insider Stuart Naylor sold 27,659 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $10.64, for a total value of $294,291.76. Following the completion of the sale, the insider owned 613,187 shares of the company’s stock, valued at approximately $6,524,309.68. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MeiraGTx Trading Down 2.9%

Shares of NASDAQ MGTX traded down $0.32 during trading on Tuesday, hitting $10.60. 944,435 shares of the company were exchanged, compared to its average volume of 1,000,735. MeiraGTx Holdings PLC has a 12-month low of $6.62 and a 12-month high of $15.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.76 and a current ratio of 3.76. The company has a fifty day moving average price of $12.87 and a 200-day moving average price of $11.24. The firm has a market capitalization of $1.02 billion, a PE ratio of 14.93 and a beta of 1.35.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Thursday, August 13th. The company reported $1.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $321.43 million during the quarter, compared to analyst estimates of $0.70 million. As a group, equities research analysts expect that MeiraGTx Holdings PLC will post 0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank Of Canada raised their target price on MeiraGTx from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. The Goldman Sachs Group initiated coverage on MeiraGTx in a report on Thursday, September 24th. They set a “neutral” rating and a $16.00 price target for the company. Zacks Research downgraded MeiraGTx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 11th. Weiss Ratings upgraded shares of MeiraGTx from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Finally, Wall Street Zen cut shares of MeiraGTx from a “buy” rating to a “hold” rating in a research report on Saturday, September 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.71.

Institutional Trading of MeiraGTx

A number of large investors have recently made changes to their positions in MGTX. Tocqueville Asset Management L.P. purchased a new stake in MeiraGTx during the 2nd quarter worth about $1,050,000. Johnson & Johnson purchased a new position in shares of MeiraGTx in the 2nd quarter valued at about $89,720,775. Squarepoint Ops LLC raised its position in shares of MeiraGTx by 773.9% during the 2nd quarter. Squarepoint Ops LLC now owns 162,412 shares of the company’s stock worth $2,194,000 after acquiring an additional 143,828 shares in the last quarter. Sei Investments Co. purchased a new stake in MeiraGTx during the first quarter worth approximately $863,000. Finally, Bank of New York Mellon Corp purchased a new stake in MeiraGTx during the second quarter worth approximately $1,869,000. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

About MeiraGTx

MeiraGTx Holdings plc (NASDAQ:MGTX) is a clinical-stage biotechnology company developing gene therapy and ribonucleic acid (RNA) medicines for diseases with significant unmet medical needs. Its research focuses primarily on the central nervous system, immune-mediated conditions and disorders affecting salivary gland function.

The company’s technology platforms are designed to deliver therapeutic genes or regulate gene expression in targeted tissues. Its investigational programs have included gene therapies for Parkinson’s disease and radiation-induced xerostomia, a condition involving chronic dry mouth after cancer treatment.