MeiraGTx (NASDAQ:MGTX) Insider Sells $294,291.76 in Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) insider Stuart Naylor sold 27,659 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $10.64, for a total value of $294,291.76. Following the completion of the transaction, the insider owned 613,187 shares of the company’s stock, valued at approximately $6,524,309.68. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a filing 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 MeiraGTx stock opened at $10.50 on Friday. MeiraGTx Holdings PLC has a 12 month low of $6.62 and a 12 month high of $15.35. The firm has a market capitalization of $1.01 billion, a P/E ratio of 14.79 and a beta of 1.35. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $12.82 and a two-hundred day simple moving average of $11.29.

MeiraGTx (NASDAQ:MGTX) last released its earnings results on Thursday, August 13th. The company reported $1.71 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $0.70 million. On average, equities analysts forecast that MeiraGTx Holdings PLC will post 0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of MeiraGTx

A number of institutional investors and hedge funds have recently modified their holdings of the business. Johnson & Johnson bought a new position in shares of MeiraGTx during the second quarter valued at $89,720,775. BlackRock Inc. bought a new stake in MeiraGTx in the 2nd quarter worth about $64,269,000. Opaleye Management Inc. raised its position in MeiraGTx by 67.2% in the 2nd quarter. Opaleye Management Inc. now owns 3,550,000 shares of the company’s stock worth $47,960,000 after buying an additional 1,426,741 shares during the last quarter. Rubric Capital Management LP raised its position in MeiraGTx by 13.4% in the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock worth $60,620,000 after buying an additional 824,669 shares during the last quarter. Finally, Jupiter Topco LLC bought a new position in MeiraGTx during the 2nd quarter valued at about $6,427,000. Institutional investors own 67.48% of the company’s stock.

MeiraGTx Company Profile

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.