Insider Selling: MeiraGTx Holdings PLC (NASDAQ:MGTX) CFO Sells 24,000 Shares of Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) CFO Richard Giroux sold 24,000 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $8.52, for a total value of $204,480.00. Following the transaction, the chief financial officer owned 853,494 shares in the company, valued at approximately $7,271,768.88. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

MeiraGTx Stock Performance

NASDAQ MGTX traded up $0.06 during trading hours on Friday, reaching $8.37. 389,938 shares of the company were exchanged, compared to its average volume of 557,825. MeiraGTx Holdings PLC has a 1 year low of $3.85 and a 1 year high of $8.98. The business's 50 day simple moving average is $6.79 and its 200-day simple moving average is $6.53. The company has a quick ratio of 1.51, a current ratio of 1.53 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $672.61 million, a P/E ratio of -3.61 and a beta of 1.24.

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

Analyst Ratings Changes

MGTX has been the subject of several recent research reports. Wall Street Zen upgraded shares of MeiraGTx from a "sell" rating to a "hold" rating in a research 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 report on Wednesday, May 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. raised its stake in MeiraGTx by 106.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock worth $30,000 after buying an additional 2,515 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in MeiraGTx by 68.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock worth $30,000 after buying an additional 2,016 shares in the last quarter. GAMMA Investing LLC raised its stake in 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 buying an additional 4,328 shares in the last quarter. CWM LLC raised its stake in MeiraGTx by 1,737.7% in the first quarter. CWM LLC now owns 8,674 shares of the company's stock worth $59,000 after buying an additional 8,202 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in MeiraGTx in the first quarter worth about $83,000. 67.48% of the stock is owned by hedge funds and other 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.