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

Key Points

• Insider sale: Stuart Naylor sold 27,659 MeiraGTx shares at an average price of $10.64, generating approximately $294,292. The transaction, conducted under a Rule 10b5-1 plan, reduced his stake by 4.32% to 613,187 shares.
• Stock and financial performance: MGTX traded at $10.60, with a market capitalization of about $1.02 billion. MeiraGTx recently reported quarterly EPS of $1.71, well above the consensus estimate of a $0.46 loss, alongside $321.43 million in revenue.
• Analyst outlook: Analysts maintain a consensus “Moderate Buy” rating with an average price target of $24.71, although recent opinions range from “Buy” and “Outperform” to “Hold.” Institutional investors own approximately 67.48% of the company.

MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) insider Stuart Naylor sold 27,659 shares of the firm's stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $10.64, for a total transaction of $294,291.76. Following the transaction, the insider directly owned 613,187 shares of the company's stock, valued at approximately $6,524,309.68. This trade represents a 4.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MeiraGTx Stock Performance

MeiraGTx stock traded down $0.32 during mid-day trading on Tuesday, hitting $10.60. The company had a trading volume of 944,435 shares, compared to its average volume of 1,000,735. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 14.93 and a beta of 1.35. MeiraGTx Holdings PLC has a 12-month low of $6.62 and a 12-month high of $15.35. The company's fifty day moving average is $12.87 and its 200-day moving average is $11.24. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.46.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.71 earnings per share for the quarter, beating the consensus estimate of ($0.46) by $2.17. The firm had revenue of $321.43 million during the quarter, compared to analyst estimates of $0.70 million. MeiraGTx had a return on equity of 283.85% and a net margin of 19.87%. Equities research analysts predict that MeiraGTx Holdings PLC will post 0.3 EPS for the current year.

Institutional Trading of MeiraGTx

Large investors have recently bought and sold shares of the business. Opaleye Management Inc. raised its holdings in MeiraGTx by 67.2% in the 2nd quarter. Opaleye Management Inc. now owns 3,550,000 shares of the company's stock valued at $47,960,000 after acquiring an additional 1,426,741 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of MeiraGTx by 157.8% during the 2nd quarter. Engineers Gate Manager LP now owns 69,092 shares of the company's stock worth $933,000 after purchasing an additional 42,292 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of MeiraGTx by 773.9% during the 2nd quarter. Squarepoint Ops LLC now owns 162,412 shares of the company's stock worth $2,194,000 after purchasing an additional 143,828 shares during the last quarter. Arizona State Retirement System purchased a new stake in shares of MeiraGTx in the second quarter valued at approximately $207,000. Finally, AXQ Capital LP purchased a new stake in shares of MeiraGTx in the second quarter valued at approximately $421,000. Hedge funds and other institutional investors own 67.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MGTX shares. The Goldman Sachs Group initiated coverage on MeiraGTx in a research note on Thursday, September 24th. They set a "neutral" rating and a $16.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of MeiraGTx in a research report on Wednesday, July 8th. Zacks Research lowered MeiraGTx from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 11th. Royal Bank Of Canada boosted their price target on MeiraGTx from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Finally, Wall Street Zen lowered MeiraGTx from a "buy" rating to a "hold" rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, MeiraGTx currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.71.

MeiraGTx Company Profile

MeiraGTx Holdings plc NASDAQ: MGTX is a clinical-stage biotechnology company developing gene therapy and ribonucleic acid (RNA) medicines for diseases with significant unmet medical needs. Its research focuses primarily on the central nervous system, immune-mediated conditions and disorders affecting salivary gland function.

The company's technology platforms are designed to deliver therapeutic genes or regulate gene expression in targeted tissues. Its investigational programs have included gene therapies for Parkinson's disease and radiation-induced xerostomia, a condition involving chronic dry mouth after cancer treatment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.