Alexandria Forbes Sells 47,500 Shares of MeiraGTx (NASDAQ:MGTX) Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) CEO Alexandria Forbes sold 47,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $8.39, for a total value of $398,525.00. Following the transaction, the chief executive officer directly owned 1,313,983 shares of the company’s stock, valued at $11,024,317.37. This trade represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

MeiraGTx Stock Up 1.0%

NASDAQ:MGTX opened at $8.49 on Wednesday. The firm has a market capitalization of $683.02 million, a PE ratio of -4.16 and a beta of 1.34. The stock has a 50 day moving average of $7.82 and a 200-day moving average of $6.95. MeiraGTx Holdings PLC has a 52 week low of $3.97 and a 52 week high of $8.98. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 26.29.

MeiraGTx (NASDAQ:MGTX) last posted its earnings results on Thursday, August 14th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.04. MeiraGTx had a negative return on equity of 314.44% and a negative net margin of 415.39%.The company had revenue of $3.69 million during the quarter, compared to analyst estimates of $8.00 million. Analysts predict that MeiraGTx Holdings PLC will post -1.48 EPS for the current year.

Institutional Investors Weigh In On MeiraGTx

A number of institutional investors have recently added to or reduced their stakes in MGTX. GAMMA Investing LLC lifted its position in MeiraGTx by 3,606.7% in the first quarter. GAMMA Investing LLC now owns 4,448 shares of the company’s stock worth $30,000 after purchasing an additional 4,328 shares during the period. BNP Paribas Financial Markets lifted its position in MeiraGTx by 43.8% in 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 period. Tower Research Capital LLC TRC lifted its position in MeiraGTx by 390.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock worth $57,000 after purchasing an additional 7,005 shares during the period. CWM LLC lifted its position in shares of MeiraGTx by 1,737.7% during the 1st quarter. CWM LLC now owns 8,674 shares of the company’s stock valued at $59,000 after acquiring an additional 8,202 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of MeiraGTx during the 2nd quarter valued at $61,000. 67.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MGTX. Wall Street Zen raised MeiraGTx from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a report on Saturday, September 27th. Finally, Chardan Capital reissued a “buy” rating and issued a $35.00 price objective on shares of MeiraGTx in a report on Friday, August 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.00.

MeiraGTx Company Profile

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia.