MeiraGTx Holdings PLC (NASDAQ:MGTX) CEO Sells $378,575.00 in Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) CEO Alexandria Forbes sold 47,500 shares of MeiraGTx stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $7.97, for a total transaction of $378,575.00. Following the transaction, the chief executive officer directly owned 1,361,483 shares in the company, valued at approximately $10,851,019.51. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

MeiraGTx Stock Down 1.5%

MGTX stock traded down $0.13 during trading hours on Friday, reaching $8.49. 448,243 shares of the stock were exchanged, compared to its average volume of 404,161. The firm's 50-day moving average is $6.13 and its 200-day moving average is $6.34. MeiraGTx Holdings PLC has a 12 month low of $3.85 and a 12 month high of $8.75. The company has a market cap of $682.58 million, a price-to-earnings ratio of -3.66 and a beta of 1.24. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.53 and a quick ratio of 1.51.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.13). MeiraGTx had a negative return on equity of 241.05% and a negative net margin of 484.90%. The firm had revenue of $1.93 million for the quarter, compared to analyst estimates of $4.44 million. On average, equities research analysts expect that MeiraGTx Holdings PLC will post -1.48 earnings per share for the current year.

Wall Street Analyst Weigh In

MGTX has been the subject of several recent analyst reports. Wall Street Zen upgraded MeiraGTx from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Chardan Capital lowered their target price on MeiraGTx from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada raised their target price on shares of MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a report on Monday, March 17th.

Hedge Funds Weigh In On MeiraGTx

Several hedge funds have recently made changes to their positions in the business. Sanofi bought a new stake in shares of MeiraGTx in the fourth quarter worth $74,284,000. Adage Capital Partners GP L.L.C. lifted its position in MeiraGTx by 11.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 5,634,578 shares of the company's stock worth $38,202,000 after buying an additional 600,000 shares in the last quarter. 683 Capital Management LLC lifted its position in MeiraGTx by 6.6% during the 1st quarter. 683 Capital Management LLC now owns 2,575,000 shares of the company's stock worth $17,458,000 after buying an additional 160,000 shares in the last quarter. Woodline Partners LP acquired a new position in shares of MeiraGTx during the 4th quarter worth about $9,349,000. Finally, Erste Asset Management GmbH grew its holdings in shares of MeiraGTx by 17.9% in the 1st quarter. Erste Asset Management GmbH now owns 789,702 shares of the company's stock valued at $5,366,000 after acquiring an additional 120,000 shares in the last quarter. 67.48% of the stock is owned by institutional investors.

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.