Key Points
- MeiraGTx CFO Richard Giroux sold 56,000 shares on April 21 at an average price of $10.22 for about $572,320, trimming his stake by 5.45% to 971,530 shares; the sale was made under a pre‑arranged Rule 10b5‑1 plan and disclosed in an SEC filing.
- Company results and outlook are mixed: MeiraGTx reported a surprise quarterly beat (EPS $0.19 vs. -$0.60 expected and revenue $75.36M vs. $3.87M expected) but still shows negative ROE and net margin, while analysts maintain a "Moderate Buy" consensus with a $25 average target amid varied ratings.
MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) CFO Richard Giroux sold 56,000 shares of the firm's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $10.22, for a total value of $572,320.00. Following the transaction, the chief financial officer directly owned 971,530 shares of the company's stock, valued at $9,929,036.60. The trade was a 5.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
MeiraGTx Stock Performance
MeiraGTx stock opened at $10.17 on Wednesday. The stock has a fifty day moving average of $8.22 and a two-hundred day moving average of $8.14. The company has a market capitalization of $828.35 million, a price-to-earnings ratio of -7.16 and a beta of 1.27. MeiraGTx Holdings PLC has a fifty-two week low of $4.55 and a fifty-two week high of $11.85.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.79. The company had revenue of $75.36 million during the quarter, compared to the consensus estimate of $3.87 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 140.31%. On average, analysts forecast that MeiraGTx Holdings PLC will post -1.19 EPS for the current fiscal year.
Institutional Investors Weigh In On MeiraGTx
Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in shares of MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company's stock worth $31,000 after purchasing an additional 1,466 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of MeiraGTx by 2.2% during 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 last quarter. Russell Investments Group Ltd. boosted its holdings 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 boosted its holdings 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, State of Alaska Department of Revenue acquired a new stake in shares of MeiraGTx during the third quarter worth $33,000. Institutional investors and hedge funds own 67.48% of the company's stock.
Wall Street Analyst Weigh In
MGTX has been the subject of several recent research reports. Piper Sandler dropped their price target on MeiraGTx from $30.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, March 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of MeiraGTx in a research report on Thursday, January 22nd. Chardan Capital restated a "buy" rating and set a $35.00 price objective on shares of MeiraGTx in a report on Friday, March 27th. Bank of America raised their price objective on MeiraGTx from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, March 27th. Finally, Zacks Research upgraded MeiraGTx from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MeiraGTx presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.
View Our Latest Stock Analysis on MGTX
About MeiraGTx
(
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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