MeiraGTx (NASDAQ:MGTX) CEO Sells $568,540.00 in Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) CEO Alexandria Forbes sold 62,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $9.17, for a total transaction of $568,540.00. Following the completion of the sale, the chief executive officer directly owned 1,387,695 shares in the company, valued at approximately $12,725,163.15. This represents a 4.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alexandria Forbes also recently made the following trade(s):

• On Tuesday, March 24th, Alexandria Forbes sold 62,000 shares of MeiraGTx stock. The shares were sold at an average price of $7.41, for a total transaction of $459,420.00.

MeiraGTx Trading Down 0.9%

Shares of MGTX opened at $9.49 on Friday. The stock has a market capitalization of $878.87 million, a P/E ratio of -6.41 and a beta of 1.23. The firm’s fifty day simple moving average is $9.04 and its two-hundred day simple moving average is $8.29. MeiraGTx Holdings PLC has a 12 month low of $4.82 and a 12 month high of $11.85.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.04. The business had revenue of $0.29 million for the quarter, compared to analysts’ expectations of $17.00 million. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%. As a group, research analysts predict that MeiraGTx Holdings PLC will post -1.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Zacks Research raised shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Royal Bank Of Canada upped their price target on shares of MeiraGTx from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Chardan Capital reaffirmed a “buy” rating and set a $35.00 price target on shares of MeiraGTx in a research report on Friday, March 27th. Piper Sandler upped their price target on shares of MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Hedge Funds Weigh In On MeiraGTx

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its position in shares of MeiraGTx by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after purchasing an additional 1,466 shares in the last quarter. Kennedy Capital Management LLC boosted its position in shares of MeiraGTx by 2.2% during the 4th quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company’s stock worth $562,000 after purchasing an additional 1,495 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of MeiraGTx by 4.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock worth $682,000 after purchasing an additional 3,452 shares in the last quarter. XTX Topco Ltd boosted its position in shares of MeiraGTx by 11.0% during the 4th quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock worth $302,000 after purchasing an additional 3,766 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of MeiraGTx during the 3rd quarter worth about $33,000. Institutional investors own 67.48% of the company’s stock.

MeiraGTx Company Profile

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.