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

MeiraGTx Holdings plc (NASDAQ:MGTX - Get Free Report) CEO Alexandria Forbes sold 47,500 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,408,983 shares of the company's stock, valued at approximately $7,523,969.22. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

MeiraGTx Price Performance

Shares of NASDAQ:MGTX traded up $0.13 during trading on Friday, hitting $5.20. 477,760 shares of the company were exchanged, compared to its average volume of 312,636. MeiraGTx Holdings plc has a 1-year low of $3.85 and a 1-year high of $8.75. The company has a market capitalization of $410.05 million, a P/E ratio of -4.30, a price-to-earnings-growth ratio of 0.37 and a beta of 1.21. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. The business's 50 day moving average is $6.70 and its 200-day moving average is $6.20.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.02). The firm had revenue of $21.39 million for the quarter, compared to the consensus estimate of $1.50 million. MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. Equities analysts forecast that MeiraGTx Holdings plc will post -1.48 earnings per share for the current year.

Analyst Ratings Changes

MGTX has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their target price on MeiraGTx from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Monday, March 17th. Chardan Capital restated a "buy" rating and issued a $36.00 price target on shares of MeiraGTx in a research note on Monday, February 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its holdings in MeiraGTx by 106.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock worth $30,000 after acquiring an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of MeiraGTx by 68.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock worth $30,000 after purchasing an additional 2,016 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 last quarter. BNP Paribas Financial Markets increased its holdings in MeiraGTx by 142.5% in the third quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company's stock valued at $39,000 after purchasing an additional 5,476 shares during the period. Finally, Polymer Capital Management US LLC acquired a new stake in MeiraGTx in the fourth quarter valued at $88,000. Institutional investors and hedge funds own 67.48% of the company's stock.

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.