Key Points
- Insider sale: Stuart Naylor sold 27,661 shares of MeiraGTx at an average price of $9.36 on April 7 for roughly $258,907, reducing his stake by 3.97% to 668,505 shares; the trade was executed under a pre-arranged Rule 10b5-1 plan.
- Mixed financials: MeiraGTx beat expectations this quarter—reporting $0.19 EPS vs a -$0.60 consensus and $75.36M revenue vs $3.87M expected—but still shows a negative net margin (~140%) and analysts hold a “Moderate Buy” consensus with a $23.67 target.
MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) insider Stuart Naylor sold 27,661 shares of the business's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $9.36, for a total transaction of $258,906.96. Following the completion of the sale, the insider directly owned 668,505 shares of the company's stock, valued at approximately $6,257,206.80. This trade 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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
MeiraGTx Price Performance
MeiraGTx stock opened at $9.39 on Thursday. The stock has a market cap of $764.82 million, a price-to-earnings ratio of -6.61 and a beta of 1.27. MeiraGTx Holdings PLC has a 1 year low of $4.55 and a 1 year high of $9.88. The firm has a 50-day moving average of $7.78 and a two-hundred day moving average of $8.03.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings data on Thursday, March 26th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.79. The company had revenue of $75.36 million during the quarter, compared to analysts' expectations of $3.87 million. MeiraGTx had a negative net margin of 140.31% and a negative return on equity of 1,065.47%. Research analysts expect that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research firms have recently commented on MGTX. Zacks Research upgraded shares of MeiraGTx from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. Bank of America boosted their price target on shares of MeiraGTx from $14.00 to $16.00 and gave the company a "buy" rating in a report on Friday, March 27th. Piper Sandler reduced their price target on shares of MeiraGTx from $30.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, March 27th. Chardan Capital restated a "buy" rating and issued a $35.00 price target on shares of MeiraGTx in a report on Friday, March 27th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of MeiraGTx in a research report on Thursday, January 22nd. 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 given a Sell rating to the stock. Based on data from MarketBeat, MeiraGTx presently has an average rating of "Moderate Buy" and a consensus target price of $23.67.
Get Our Latest Stock Analysis on MeiraGTx
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new stake in shares of MeiraGTx in the first quarter worth $557,000. Rhumbline Advisers increased its stake in shares of MeiraGTx by 9.4% in the second quarter. Rhumbline Advisers now owns 63,715 shares of the company's stock worth $415,000 after acquiring an additional 5,488 shares during the period. Kennedy Capital Management LLC increased its stake in shares of MeiraGTx by 3.8% in the second quarter. Kennedy Capital Management LLC now owns 35,189 shares of the company's stock worth $229,000 after acquiring an additional 1,287 shares during the period. Brown Advisory Inc. acquired a new stake in shares of MeiraGTx in the second quarter worth $326,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of MeiraGTx in the second quarter worth $530,000. Institutional investors and hedge funds 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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