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

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 of the company’s stock, valued at $12,725,163.15. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $7.41, for a total transaction of $459,420.00.

MeiraGTx Stock Down 2.9%

MeiraGTx stock opened at $9.13 on Wednesday. The company has a market capitalization of $845.53 million, a PE ratio of -6.17 and a beta of 1.23. The firm has a fifty day simple moving average of $8.96 and a two-hundred day simple moving average of $8.28. MeiraGTx Holdings PLC has a twelve month low of $4.82 and a twelve month high of $11.85.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.04. The business had revenue of $0.29 million during the quarter, compared to the consensus estimate 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, equities analysts expect that MeiraGTx Holdings PLC will post -1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MeiraGTx

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after acquiring an additional 1,466 shares during the last quarter. Kennedy Capital Management LLC raised its stake in shares of MeiraGTx by 2.2% during the fourth quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company’s stock valued at $562,000 after acquiring an additional 1,495 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of MeiraGTx by 4.3% during the third quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock valued at $682,000 after acquiring an additional 3,452 shares during the last quarter. XTX Topco Ltd raised its stake in shares of MeiraGTx by 11.0% during the fourth quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock valued at $302,000 after acquiring an additional 3,766 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in MeiraGTx in the third quarter worth about $33,000. 67.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MGTX. Bank of America boosted their price target on shares of MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Chardan Capital reissued a “buy” rating and issued a $35.00 price target on shares of MeiraGTx in a research note on Friday, March 27th. Piper Sandler upped their price objective on shares of MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MeiraGTx presently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

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.