Key Points
- CEO sale: MeiraGTx CEO Alexandria Forbes sold 62,000 shares on March 24 at an average price of $7.41 for $459,420, cutting her stake by 4.10% to 1,449,695 shares, as disclosed in an SEC filing.
- Analyst and price outlook: The stock trades around $7.60 (50‑day MA $7.58, 200‑day MA $7.94) and carries a consensus "Moderate Buy" rating with a consensus target price of $26.00.
- Institutional buying: Major funds (e.g., Rubric Capital, Millennium, Adage) have significantly increased positions and institutional investors now own about 67.48% of the company.
MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) CEO Alexandria Forbes sold 62,000 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $7.41, for a total value of $459,420.00. Following the completion of the sale, the chief executive officer directly owned 1,449,695 shares in the company, valued at approximately $10,742,239.95. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
MeiraGTx Price Performance
Shares of NASDAQ:MGTX opened at $7.62 on Thursday. The business has a fifty day moving average price of $7.58 and a 200-day moving average price of $7.94. The company has a debt-to-equity ratio of 26.29, a current ratio of 0.22 and a quick ratio of 0.22. The company has a market capitalization of $613.33 million, a PE ratio of -3.61 and a beta of 1.37. MeiraGTx Holdings PLC has a 1-year low of $4.55 and a 1-year high of $9.73.
Analysts Set New Price Targets
A number of research firms have weighed in on MGTX. Zacks Research upgraded shares of MeiraGTx from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MeiraGTx in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $26.00.
Read Our Latest Report on MGTX
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Rubric Capital Management LP lifted its holdings in shares of MeiraGTx by 65.7% during the fourth quarter. Rubric Capital Management LP now owns 6,175,331 shares of the company's stock valued at $49,094,000 after purchasing an additional 2,448,880 shares in the last quarter. Millennium Management LLC increased its holdings in MeiraGTx by 23.5% in the 4th quarter. Millennium Management LLC now owns 3,176,390 shares of the company's stock worth $25,252,000 after buying an additional 604,121 shares in the last quarter. 22NW LP purchased a new position in MeiraGTx in the 2nd quarter worth about $3,824,000. Adage Capital Partners GP L.L.C. raised its position in MeiraGTx by 7.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,034,578 shares of the company's stock worth $39,345,000 after buying an additional 400,000 shares during the last quarter. Finally, Opaleye Management Inc. bought a new position in MeiraGTx during the 4th quarter valued at about $3,107,000. Hedge funds and other institutional investors own 67.48% of the company's stock.
MeiraGTx Company Profile
(
Get Free Report)
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.
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