MeiraGTx (NASDAQ:MGTX) CEO Alexandria Forbes Sells 62,000 Shares of Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) CEO Alexandria Forbes sold 62,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $13.86, for a total value of $859,320.00. Following the transaction, the chief executive officer owned 1,325,695 shares in the company, valued at $18,374,132.70. The trade was a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MeiraGTx Stock Performance

Shares of MGTX stock traded up $0.12 during trading hours on Tuesday, reaching $13.89. 775,657 shares of the company’s stock were exchanged, compared to its average volume of 469,914. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.76 and a quick ratio of 3.76. The company’s 50 day moving average is $12.28 and its two-hundred day moving average is $9.92. The company has a market cap of $1.33 billion, a P/E ratio of 19.56 and a beta of 1.23. MeiraGTx Holdings PLC has a 1 year low of $6.62 and a 1 year high of $15.35.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings results on Thursday, August 13th. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $2.17. MeiraGTx had a return on equity of 283.85% and a net margin of 19.87%.The firm had revenue of $321.43 million for the quarter, compared to the consensus estimate of $0.70 million. Equities research analysts anticipate that MeiraGTx Holdings PLC will post -0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MGTX shares. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of MeiraGTx in a report on Wednesday, July 8th. Wall Street Zen raised shares of MeiraGTx from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler increased their price target on shares of MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research note on Friday, July 17th. Finally, Zacks Research raised shares of MeiraGTx from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.17.

Hedge Funds Weigh In On MeiraGTx

Several hedge funds have recently bought and sold shares of the company. Johnson & Johnson acquired a new position in MeiraGTx during the second quarter worth $89,720,775,000. BlackRock Inc. acquired a new stake in MeiraGTx in the second quarter valued at $64,269,000. Rubric Capital Management LP grew its holdings in MeiraGTx by 65.7% in the fourth quarter. Rubric Capital Management LP now owns 6,175,331 shares of the company’s stock valued at $49,094,000 after purchasing an additional 2,448,880 shares during the last quarter. Millennium Management LLC increased its position in shares of MeiraGTx by 23.5% in the fourth quarter. Millennium Management LLC now owns 3,176,390 shares of the company’s stock valued at $25,252,000 after buying an additional 604,121 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new position in shares of MeiraGTx in the second quarter valued at $6,427,000. 67.48% of the stock is owned by hedge funds and other institutional investors.

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.