MeiraGTx (NASDAQ:MGTX) CEO Sells $459,420.00 in Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) CEO Alexandria Forbes sold 62,000 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $7.41, for a total value of $459,420.00. Following the transaction, the chief executive officer directly owned 1,449,695 shares in the company, valued at $10,742,239.95. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

MeiraGTx Trading Up 1.2%

Shares of NASDAQ MGTX opened at $7.62 on Friday. MeiraGTx Holdings PLC has a one year low of $4.55 and a one year high of $9.73. The firm has a market capitalization of $613.33 million, a PE ratio of -5.37 and a beta of 1.37. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 26.29. The business has a 50-day moving average price of $7.58 and a two-hundred day moving average price of $7.94.

MeiraGTx (NASDAQ:MGTX) last issued its earnings results on Thursday, March 26th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.79. The company had revenue of $75.36 million for the quarter, compared to the consensus estimate of $3.87 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 140.31%. As a group, analysts predict that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler decreased their target price on shares of MeiraGTx from $30.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 price target on shares of MeiraGTx in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a report on Thursday, January 22nd. Zacks Research raised MeiraGTx from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Bank of America boosted their target price on MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MeiraGTx has an average rating of “Moderate Buy” and an average price target of $23.67.

Institutional Trading of MeiraGTx

A number of institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new stake in MeiraGTx in the third quarter worth approximately $33,000. BNP Paribas Financial Markets increased its stake 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 during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of MeiraGTx by 390.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after purchasing an additional 7,005 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of MeiraGTx during the 4th quarter valued at $94,000. Finally, Abel Hall LLC acquired a new stake in shares of MeiraGTx in the 4th quarter valued at $98,000. 67.48% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting MeiraGTx

Here are the key news stories impacting MeiraGTx this week:

• Positive Sentiment: FDA granted Breakthrough Therapy Designation to AAV2-hAQP1 for Grade 2/3 radiation-induced xerostomia — a major regulatory de-risking and potential acceleration pathway for the program. MeiraGTx Announces FDA Breakthrough Therapy Designation (GlobeNewswire)
• Positive Sentiment: Q4 results materially beat estimates — GAAP EPS $0.19 vs. a consensus loss and revenue of $75.36M vs. a ~$3.9M consensus — this large upside explains renewed investor optimism around near-term milestones and cash generation. Q4 Press Release (Quartr)
• Positive Sentiment: Multiple broker actions supportive of upside: Chardan reaffirmed a Buy with a $35 target (large upside) and Bank of America raised its target from $14 to $16 and maintains a Buy — these notes add analyst support for higher share valuations. Analyst Notes (Benzinga)
• Neutral Sentiment: Piper Sandler lowered its target from $30 to $26 but kept an Overweight rating — still bullish overall, but the cut tempers upside expectations vs. some peers. Piper Sandler / TickerReport
• Neutral Sentiment: MeiraGTx presented at the RBC Virtual Ophthalmology Conference (transcript available) — useful for incremental program updates but not a discrete catalyst like the Breakthrough designation. RBC Conference Transcript (Seeking Alpha)
• Negative Sentiment: CEO Alexandria Forbes sold 62,000 shares (~$459k), a disclosed insider sale that may concern some investors even though insiders still hold substantial positions. Insider Sale Report (InsiderTrades)

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.