Key Points
- CEO Alexandria Forbes sold 62,000 MeiraGTx shares on May 19 at an average price of $9.17, for proceeds of about $568,540. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Forbes directly owned 1,387,695 shares, valued at roughly $12.7 million, representing a 4.28% decrease in her ownership stake.
- MeiraGTx recently reported a narrower-than-expected quarterly loss of $0.57 per share, but revenue came in far below estimates at $0.29 million versus $17 million expected. Analysts currently view the stock as a Moderate Buy with a consensus price target of $25.83.
MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) CEO Alexandria Forbes sold 62,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $9.17, for a total transaction of $568,540.00. Following the completion of the transaction, the chief executive officer directly owned 1,387,695 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $459,420.00.
MeiraGTx Price Performance
MGTX stock opened at $9.13 on Wednesday. MeiraGTx Holdings PLC has a 1 year low of $4.82 and a 1 year high of $11.85. The company has a market cap of $845.53 million, a P/E ratio of -6.17 and a beta of 1.23. The firm has a 50-day moving average of $8.96 and a 200 day moving average of $8.28.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.61) by $0.04. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%. The company had revenue of $0.29 million during the quarter, compared to the consensus estimate of $17.00 million. On average, equities research analysts expect that MeiraGTx Holdings PLC will post -1.63 earnings per share for the current fiscal year.
Institutional Investors Weigh In On MeiraGTx
Hedge funds and other institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. grew its holdings in MeiraGTx by 183.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 308,509 shares of the company's stock worth $2,453,000 after purchasing an additional 199,528 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of MeiraGTx by 85.8% during the third quarter. BNP Paribas Financial Markets now owns 8,937 shares of the company's stock valued at $74,000 after buying an additional 4,127 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of MeiraGTx by 390.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company's stock valued at $57,000 after buying an additional 7,005 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of MeiraGTx during the first quarter valued at approximately $863,000. Finally, Hsbc Holdings PLC grew its holdings in shares of MeiraGTx by 67.2% during the first quarter. Hsbc Holdings PLC now owns 39,787 shares of the company's stock valued at $338,000 after buying an additional 15,995 shares during the last quarter. Hedge funds and other institutional investors own 67.48% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of MeiraGTx in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of MeiraGTx from a "sell" rating to a "hold" rating in a report on Sunday, April 5th. Bank of America upped their price objective on shares of MeiraGTx from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, March 27th. Piper Sandler upped their price objective on shares of MeiraGTx from $26.00 to $30.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. Finally, Chardan Capital restated a "buy" rating and issued a $35.00 price objective on shares of MeiraGTx in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MeiraGTx has an average rating of "Moderate Buy" and a consensus price target of $25.83.
View Our Latest Research Report on MeiraGTx
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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