Key Points
- MeiraGTx CFO Richard Giroux sold 56,000 shares for approximately $700,560 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct holdings by 5.81% to 908,530 shares.
- MGTX shares opened at $11.82 after declining 3.9%; the company has a market capitalization of about $1.09 billion and recently reported a quarterly loss of $0.57 per share, narrower than expected.
- Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $26 average price target, while institutional investors own 67.48% of the stock.
MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) CFO Richard Giroux sold 56,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total value of $700,560.00. Following the sale, the chief financial officer directly owned 908,530 shares in the company, valued at $11,365,710.30. The trade was a 5.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
MeiraGTx Trading Down 3.9%
Shares of NASDAQ MGTX opened at $11.82 on Wednesday. The business has a fifty day simple moving average of $11.32 and a 200 day simple moving average of $9.38. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -7.99 and a beta of 1.20. MeiraGTx Holdings PLC has a one year low of $6.62 and a one year high of $15.35.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.04. The firm had revenue of $0.29 million during the quarter, compared to the consensus estimate of $17.00 million. On average, research analysts anticipate that MeiraGTx Holdings PLC will post -1.53 earnings per share for the current fiscal year.
Hedge Funds Weigh In On MeiraGTx
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets grew 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 raised its holdings in shares of MeiraGTx by 2.2% in the fourth quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company's stock valued at $562,000 after buying an additional 1,495 shares during the last quarter. Russell Investments Group Ltd. lifted its position in MeiraGTx by 4.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company's stock worth $682,000 after buying an additional 3,452 shares in the last quarter. XTX Topco Ltd lifted its position in MeiraGTx by 11.0% during the 4th quarter. XTX Topco Ltd now owns 38,030 shares of the company's stock worth $302,000 after buying an additional 3,766 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in MeiraGTx by 24.3% during the 4th quarter. Hsbc Holdings PLC now owns 23,792 shares of the company's stock worth $189,000 after acquiring an additional 4,649 shares during the last quarter. Institutional investors and hedge funds own 67.48% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on MGTX. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of MeiraGTx in a research report on Wednesday, July 8th. Wall Street Zen raised shares of MeiraGTx from a "sell" rating to a "hold" rating in a research report on Sunday, April 5th. Royal Bank Of Canada raised their price target on shares of MeiraGTx from $25.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Piper Sandler lifted their price objective on MeiraGTx from $26.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of MeiraGTx in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given 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 a consensus price target of $26.00.
Check Out Our Latest Stock Report on MeiraGTx
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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