Stuart Naylor Sells 27,659 Shares of MeiraGTx (NASDAQ:MGTX) Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) insider Stuart Naylor sold 27,659 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $14.80, for a total value of $409,353.20. Following the transaction, the insider directly owned 640,846 shares of the company’s stock, valued at approximately $9,484,520.80. The trade was a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MeiraGTx Stock Performance

MeiraGTx stock traded up $0.77 during trading on Tuesday, reaching $14.66. The company had a trading volume of 1,959,679 shares, compared to its average volume of 1,103,905. The firm has a market capitalization of $1.36 billion, a PE ratio of -9.91 and a beta of 1.20. The firm’s 50-day simple moving average is $10.41 and its 200 day simple moving average is $8.89. MeiraGTx Holdings PLC has a 1-year low of $6.62 and a 1-year high of $15.35.

MeiraGTx (NASDAQ:MGTX) last announced its earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.04. The company had revenue of $0.29 million during the quarter, compared to analyst estimates of $17.00 million. Analysts anticipate that MeiraGTx Holdings PLC will post -1.55 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MGTX. Perceptive Advisors LLC increased its holdings in MeiraGTx by 0.4% during the 2nd quarter. Perceptive Advisors LLC now owns 12,626,103 shares of the company’s stock worth $82,231,000 after purchasing an additional 45,000 shares during the period. Rubric Capital Management LP grew its position in shares of MeiraGTx by 13.4% during the first quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock worth $60,620,000 after buying an additional 824,669 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of MeiraGTx by 7.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 6,034,578 shares of the company’s stock worth $39,345,000 after buying an additional 400,000 shares during the period. Millennium Management LLC increased its stake in shares of MeiraGTx by 23.5% during the fourth quarter. Millennium Management LLC now owns 3,176,390 shares of the company’s stock worth $25,252,000 after buying an additional 604,121 shares during the period. Finally, Erste Asset Management GmbH raised its holdings in MeiraGTx by 11.3% in the fourth quarter. Erste Asset Management GmbH now owns 789,702 shares of the company’s stock valued at $6,275,000 after acquiring an additional 80,000 shares in the last quarter. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. HC Wainwright reiterated a “buy” rating on shares of MeiraGTx in a research report on Tuesday, May 26th. Zacks Research upgraded shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Royal Bank Of Canada boosted their price target on shares of MeiraGTx from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MeiraGTx currently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

About MeiraGTx

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.