MeiraGTx (NASDAQ:MGTX) CEO Sells $459,420.00 in Stock

Key Points

• CEO Alexandria Forbes sold 62,000 shares for $459,420 on March 24, reducing her stake by 4.1% to 1,449,695 shares (valued at about $10.74M) as disclosed in an SEC filing.
• Shares opened at $7.41 (down ~3.1%), MeiraGTx has a market cap of ~$596M and negative P/E, while analysts have an average rating of "Moderate Buy" with a consensus price target of $26.

MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) CEO Alexandria Forbes sold 62,000 shares of the company's stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $7.41, for a total value of $459,420.00. Following the transaction, the chief executive officer owned 1,449,695 shares in the company, valued at $10,742,239.95. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

MeiraGTx Stock Down 3.1%

Shares of NASDAQ:MGTX opened at $7.41 on Wednesday. The firm has a market capitalization of $596.43 million, a P/E ratio of -3.51 and a beta of 1.37. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.22 and a current ratio of 0.22. The stock has a 50 day moving average price of $7.57 and a 200-day moving average price of $7.94. MeiraGTx Holdings PLC has a 52-week low of $4.55 and a 52-week high of $9.73.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Zacks Research upgraded shares of MeiraGTx from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of MeiraGTx in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $26.00.

Institutional Trading of MeiraGTx

A number of institutional investors and hedge funds have recently modified their holdings of the business. 683 Capital Management LLC lifted its holdings in shares of MeiraGTx by 4.5% during the second quarter. 683 Capital Management LLC now owns 2,690,000 shares of the company's stock valued at $17,539,000 after purchasing an additional 115,000 shares in the last quarter. AMH Equity Ltd bought a new stake in MeiraGTx in the 3rd quarter worth about $658,000. 22NW LP purchased a new position in MeiraGTx in the 2nd quarter worth about $3,824,000. Sender Co & Partners Inc. bought a new position in MeiraGTx during the 2nd quarter valued at about $395,000. Finally, Rubric Capital Management LP lifted its stake in MeiraGTx by 109.8% during the 2nd quarter. Rubric Capital Management LP now owns 3,726,451 shares of the company's stock valued at $24,296,000 after acquiring an additional 1,950,130 shares during the period. Institutional investors own 67.48% of the company's stock.

About MeiraGTx

MeiraGTx Holdings plc is a clinical-stage biotechnology company dedicated to developing gene therapies for the treatment of rare diseases. Founded in 2014 as an outgrowth of research at University College London, the company focuses on leveraging adeno-associated virus (AAV) vectors to deliver functional genes to target tissues. MeiraGTx's pipeline spans ocular, central nervous system and systemic indications, addressing conditions such as inherited retinal dystrophies and neurodegenerative disorders that currently lack effective therapies.

The company's lead programs include AAV-based candidates designed to restore or replace defective genes underlying rare retinal diseases and to modulate cellular pathways in neurological disorders.

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