MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) CEO Alexandria Forbes sold 62,000 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $13.86, for a total value of $859,320.00. Following the completion of the sale, the chief executive officer directly owned 1,325,695 shares in the company, valued at $18,374,132.70. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
MeiraGTx Trading Up 0.9%
Shares of NASDAQ MGTX opened at $13.89 on Wednesday. The firm's 50 day moving average price is $12.28 and its 200-day moving average price is $9.92. MeiraGTx Holdings PLC has a 52-week low of $6.62 and a 52-week high of $15.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.76 and a current ratio of 3.76. The company has a market cap of $1.33 billion, a PE ratio of 19.56 and a beta of 1.23.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $1.71 EPS for the quarter, topping the consensus estimate of ($0.46) by $2.17. MeiraGTx had a return on equity of 283.85% and a net margin of 19.87%.The company had revenue of $321.43 million during the quarter, compared to the consensus estimate of $0.70 million. On average, equities research analysts expect that MeiraGTx Holdings PLC will post -0.27 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Algert Global LLC increased its holdings in shares of MeiraGTx by 13.9% in the second quarter. Algert Global LLC now owns 11,700 shares of the company's stock worth $158,000 after purchasing an additional 1,430 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company's stock valued at $31,000 after buying an additional 1,466 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in MeiraGTx by 2.2% during 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. grew its holdings in MeiraGTx by 4.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company's stock valued at $682,000 after buying an additional 3,452 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in MeiraGTx by 11.0% during the 4th quarter. XTX Topco Ltd now owns 38,030 shares of the company's stock valued at $302,000 after buying an additional 3,766 shares in the last quarter. Hedge funds and other institutional investors own 67.48% of the company's stock.
Analysts Set New Price Targets
Several analysts have issued reports on MGTX shares. HC Wainwright reissued a "buy" rating and set a $20.00 price target on shares of MeiraGTx in a report on Wednesday, July 8th. Wall Street Zen raised shares of MeiraGTx from a "hold" rating to a "buy" rating in a report on Saturday. Piper Sandler lifted their price target on shares of MeiraGTx from $26.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of MeiraGTx in a research report on Friday, July 17th. Finally, Royal Bank Of Canada increased their price objective on shares of MeiraGTx from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $26.17.
Get Our Latest Research Report on MGTX
About MeiraGTx
(
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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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