MeiraGTx (NASDAQ:MGTX) CFO Richard Giroux Sells 56,000 Shares

MeiraGTx Holdings PLC (NASDAQ:MGTX) CFO Richard Giroux sold 56,000 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total transaction of $700,560.00. Following the sale, the chief financial officer directly owned 908,530 shares in the company, valued at approximately $11,365,710.30. This represents a 5.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MeiraGTx Stock Performance

Shares of NASDAQ MGTX traded down $0.39 during trading on Tuesday, reaching $11.91. The company had a trading volume of 168,142 shares, compared to its average volume of 729,845. MeiraGTx Holdings PLC has a 52 week low of $6.62 and a 52 week high of $15.35. The stock has a market cap of $1.10 billion, a PE ratio of -8.05 and a beta of 1.20. The business’s 50 day moving average price is $11.27 and its 200-day moving average price is $9.35.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.04. The company had revenue of $0.29 million for the quarter, compared to the consensus estimate of $17.00 million. Equities analysts anticipate that MeiraGTx Holdings PLC will post -1.53 earnings per share for the current year.

Institutional Trading of MeiraGTx

Several institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new position in shares of MeiraGTx in the 1st quarter worth $557,000. Rhumbline Advisers grew its stake in shares of MeiraGTx by 9.4% during the second quarter. Rhumbline Advisers now owns 63,715 shares of the company’s stock worth $415,000 after purchasing an additional 5,488 shares during the period. Brown Advisory Inc. bought a new stake in MeiraGTx in the second quarter valued at about $326,000. Qube Research & Technologies Ltd bought a new stake in MeiraGTx in the second quarter valued at about $530,000. Finally, Quantinno Capital Management LP acquired a new position in MeiraGTx in the second quarter valued at about $319,000. Institutional investors own 67.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MGTX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research note on Friday, July 17th. Piper Sandler upped their price target on MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of MeiraGTx in a report on Wednesday, July 8th. Wall Street Zen upgraded MeiraGTx from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, Royal Bank Of Canada boosted their price objective on MeiraGTx from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

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.