Insider Selling: MeiraGTx Holdings plc (NASDAQ:MGTX) CEO Sells 47,500 Shares of Stock

MeiraGTx Holdings plc (NASDAQ:MGTX) CEO Alexandria Forbes sold 47,500 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $5.34, for a total transaction of $253,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,408,983 shares in the company, valued at approximately $7,523,969.22. This represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

MeiraGTx Stock Performance

MeiraGTx stock opened at $5.37 on Thursday. MeiraGTx Holdings plc has a 12-month low of $3.85 and a 12-month high of $8.75. The company has a market capitalization of $423.45 million, a price-to-earnings ratio of -4.44, a price-to-earnings-growth ratio of 0.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34. The firm’s fifty day moving average price is $6.74 and its 200 day moving average price is $6.17.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). The firm had revenue of $21.39 million for the quarter, compared to analysts’ expectations of $1.50 million. MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. On average, research analysts forecast that MeiraGTx Holdings plc will post -1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in MeiraGTx by 6.1% during the 1st quarter. Rhumbline Advisers now owns 58,227 shares of the company’s stock worth $395,000 after acquiring an additional 3,336 shares in the last quarter. GAMMA Investing LLC grew its holdings in MeiraGTx by 3,606.7% during the 1st quarter. GAMMA Investing LLC now owns 4,448 shares of the company’s stock worth $30,000 after acquiring an additional 4,328 shares in the last quarter. Wellington Management Group LLP grew its holdings in MeiraGTx by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 151,126 shares of the company’s stock worth $920,000 after acquiring an additional 1,379 shares in the last quarter. Woodline Partners LP acquired a new position in MeiraGTx during the 4th quarter worth $9,349,000. Finally, Sanofi acquired a new position in MeiraGTx during the 4th quarter worth $74,284,000. 67.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MGTX has been the topic of several analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $36.00 price target on shares of MeiraGTx in a research note on Monday, February 24th. Royal Bank of Canada lifted their price target on shares of MeiraGTx from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th.

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.