MeiraGTx (NASDAQ:MGTX) CEO Sells $568,540.00 in Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) CEO Alexandria Forbes sold 62,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.17, for a total value of $568,540.00. Following the transaction, the chief executive officer owned 1,387,695 shares in the company, valued at approximately $12,725,163.15. The trade was a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value of $459,420.00.

MeiraGTx Trading Down 2.9%

Shares of MGTX stock traded down $0.27 during trading hours on Tuesday, reaching $9.13. The company’s stock had a trading volume of 3,016,935 shares, compared to its average volume of 657,565. The stock has a market capitalization of $845.53 million, a P/E ratio of -6.17 and a beta of 1.23. MeiraGTx Holdings PLC has a one year low of $4.82 and a one year high of $11.85. The firm’s fifty day simple moving average is $8.96 and its 200 day simple moving average is $8.28.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.04. The firm had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 151.12%. As a group, equities research analysts forecast that MeiraGTx Holdings PLC will post -1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MGTX. Bank of America Corp DE boosted its stake in MeiraGTx by 17.5% during the first quarter. Bank of America Corp DE now owns 244,944 shares of the company’s stock valued at $2,121,000 after buying an additional 36,490 shares during the last quarter. Rubric Capital Management LP raised its position in MeiraGTx by 13.4% during the first quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock valued at $60,620,000 after purchasing an additional 824,669 shares during the period. Bank of Nova Scotia purchased a new stake in MeiraGTx during the first quarter valued at approximately $105,000. Sei Investments Co. purchased a new stake in MeiraGTx during the first quarter valued at approximately $863,000. Finally, AlphaCentric Advisors LLC raised its position in MeiraGTx by 88.4% during the first quarter. AlphaCentric Advisors LLC now owns 53,694 shares of the company’s stock valued at $465,000 after purchasing an additional 25,198 shares during the period. Hedge funds and other institutional investors own 67.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MGTX shares. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a research report on Tuesday, April 21st. Royal Bank Of Canada lifted their price target on MeiraGTx from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America lifted their price target on MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Chardan Capital restated a “buy” rating and set a $35.00 price target on shares of MeiraGTx in a research report on Friday, March 27th. Finally, Piper Sandler lifted their price target on MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.