Key Points
- MeiraGTx insider Stuart Naylor sold 27,659 shares on July 7 at an average price of $14.80, totaling about $409,353. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Naylor still owned 640,846 shares valued at about $9.48 million, which was a 4.14% reduction in his holdings.
- MeiraGTx shares were trading near their 52-week high, and analysts currently rate the stock a Moderate Buy with an average price target of $25.83.
MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) insider Stuart Naylor sold 27,659 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $14.80, for a total transaction of $409,353.20. Following the sale, the insider directly owned 640,846 shares in the company, valued at $9,484,520.80. This trade represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
MeiraGTx Stock Performance
MeiraGTx stock opened at $14.66 on Wednesday. MeiraGTx Holdings PLC has a 1 year low of $6.62 and a 1 year high of $15.35. The firm's 50-day moving average is $10.41 and its 200-day moving average is $8.89. The company has a market cap of $1.36 billion, a P/E ratio of -9.91 and a beta of 1.20.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, beating analysts' consensus estimates of ($0.61) by $0.04. The business had revenue of $0.29 million for the quarter, compared to the consensus estimate of $17.00 million. As a group, sell-side analysts predict that MeiraGTx Holdings PLC will post -1.55 earnings per share for the current year.
Hedge Funds Weigh In On MeiraGTx
A number of institutional investors and hedge funds have recently bought and sold shares of MGTX. BNP Paribas Financial Markets raised its position in shares of MeiraGTx by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company's stock worth $31,000 after buying an additional 1,466 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of MeiraGTx by 390.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company's stock valued at $57,000 after acquiring an additional 7,005 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of MeiraGTx during the fourth quarter valued at approximately $94,000. Bank of Nova Scotia acquired a new position in shares of MeiraGTx during the first quarter valued at approximately $105,000. Finally, Abel Hall LLC bought a new stake in MeiraGTx during the fourth quarter worth approximately $98,000. Institutional investors own 67.48% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on MGTX shares. Chardan Capital reiterated a "buy" rating and set a $35.00 price target on shares of MeiraGTx in a research report on Friday, March 27th. Weiss Ratings restated a "sell (d-)" rating on shares of MeiraGTx in a research note on Tuesday, April 21st. Piper Sandler increased their target price on MeiraGTx from $26.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada raised their target price on MeiraGTx from $24.00 to $25.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Finally, HC Wainwright reissued a "buy" rating on shares of MeiraGTx in a research note on Tuesday, May 26th. One research 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.83.
View Our Latest Stock 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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