MeiraGTx (NASDAQ:MGTX) Sets New 12-Month High – Here’s What Happened

MeiraGTx Holdings PLC (NASDAQ:MGTX)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $11.88 and last traded at $11.5380, with a volume of 565 shares. The stock had previously closed at $11.32.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wall Street Zen upgraded MeiraGTx from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. HC Wainwright reaffirmed a “buy” rating on shares of MeiraGTx in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research report on Tuesday, April 21st. Bank of America boosted their price objective on MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Finally, Royal Bank Of Canada increased their target price on shares of MeiraGTx from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MeiraGTx presently has an average rating of “Moderate Buy” and an average price target of $25.83.

MeiraGTx Stock Performance

The firm has a market cap of $1.09 billion, a PE ratio of -7.98 and a beta of 1.26. The firm has a fifty day simple moving average of $9.82 and a two-hundred day simple moving average of $8.58.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.04. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 151.12%.The business had revenue of $0.29 million for the quarter, compared to analysts’ expectations of $17.00 million. Equities analysts forecast that MeiraGTx Holdings PLC will post -1.55 EPS for the current fiscal year.

Insider Activity at MeiraGTx

In related news, insider Stuart Naylor sold 27,661 shares of the company’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $9.36, for a total transaction of $258,906.96. Following the sale, the insider owned 668,505 shares of the company’s stock, valued at $6,257,206.80. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Giroux sold 56,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $10.22, for a total transaction of $572,320.00. Following the transaction, the chief financial officer owned 971,530 shares of the company’s stock, valued at $9,929,036.60. This trade represents a 5.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 145,661 shares of company stock valued at $1,399,767 over the last 90 days. 7.40% of the stock is owned by corporate insiders.

Institutional Trading of MeiraGTx

Several hedge funds have recently made changes to their positions in MGTX. BNP Paribas Financial Markets boosted its holdings in MeiraGTx by 43.8% during the 2nd 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 period. Kennedy Capital Management LLC increased its stake in MeiraGTx by 2.2% in the fourth 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 during the period. Russell Investments Group Ltd. lifted its position 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 worth $682,000 after purchasing an additional 3,452 shares during the last quarter. XTX Topco Ltd lifted its position in shares of MeiraGTx by 11.0% during the fourth quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock worth $302,000 after purchasing an additional 3,766 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of MeiraGTx by 24.3% during the fourth quarter. Hsbc Holdings PLC now owns 23,792 shares of the company’s stock valued at $189,000 after purchasing an additional 4,649 shares during the period. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

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.