Richard Giroux Sells 56,000 Shares of MeiraGTx (NASDAQ:MGTX) Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) CFO Richard Giroux sold 56,000 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $12.51, for a total value of $700,560.00. Following the completion of the sale, the chief financial officer owned 908,530 shares of the company’s stock, valued at approximately $11,365,710.30. This represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MeiraGTx Price Performance

Shares of MeiraGTx stock opened at $11.62 on Thursday. The business has a 50-day simple moving average of $11.36 and a 200 day simple moving average of $9.41. MeiraGTx Holdings PLC has a one year low of $6.62 and a one year high of $15.35. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -7.85 and a beta of 1.20.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share (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, sell-side analysts expect that MeiraGTx Holdings PLC will post -1.53 EPS for the current year.

Analyst Ratings Changes

MGTX has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research report on Friday, July 17th. Royal Bank Of Canada upped their price objective on shares of MeiraGTx from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Wall Street Zen raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. Piper Sandler lifted their price objective on shares of MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of MeiraGTx in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position 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 valued at $31,000 after buying an additional 1,466 shares during the last quarter. Tower Research Capital LLC TRC raised its position in MeiraGTx by 390.9% in the 2nd 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. ProShare Advisors LLC bought a new position in MeiraGTx during the 4th quarter valued at $94,000. Abel Hall LLC bought a new position in MeiraGTx during the 4th quarter valued at $98,000. Finally, Bank of Nova Scotia purchased a new position in MeiraGTx during the 1st quarter worth $105,000. Institutional investors own 67.48% of the company’s stock.

MeiraGTx Company Profile

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.