MeiraGTx (NASDAQ:MGTX) Cut to Sell at Wall Street Zen

MeiraGTx (NASDAQ:MGTX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Thursday.

A number of other analysts have also recently weighed in on the stock. Chardan Capital decreased their target price on shares of MeiraGTx from $38.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Royal Bank of Canada raised their price objective on MeiraGTx from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Monday, March 17th.

MeiraGTx Price Performance

Shares of MGTX stock traded down $0.17 during trading hours on Thursday, reaching $5.14. The company's stock had a trading volume of 134,682 shares, compared to its average volume of 360,077. MeiraGTx has a fifty-two week low of $3.85 and a fifty-two week high of $8.75. The firm's 50 day simple moving average is $6.16 and its 200-day simple moving average is $6.33. 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 company has a market capitalization of $412.67 million, a price-to-earnings ratio of -4.24, a PEG ratio of 0.37 and a beta of 1.30.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced 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 146.38% and a negative net margin of 633.05%. The business had revenue of $1.93 million for the quarter, compared to the consensus estimate of $4.44 million. Sell-side analysts forecast that MeiraGTx will post -1.48 earnings per share for the current year.

Insider Transactions at MeiraGTx

In related news, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $6.00, for a total transaction of $144,000.00. Following the sale, the chief financial officer now directly owns 882,494 shares in the company, valued at $5,294,964. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alexandria Forbes sold 47,500 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total transaction of $253,650.00. Following the sale, the chief executive officer now directly owns 1,408,983 shares in the company, valued at $7,523,969.22. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.50% of the company's stock.

Institutional Trading of MeiraGTx

Several institutional investors have recently modified their holdings of the business. Summit Investment Advisors Inc. lifted 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 buying an additional 2,515 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of MeiraGTx by 68.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock valued at $30,000 after buying an additional 2,016 shares during the period. GAMMA Investing LLC raised its position in shares of MeiraGTx by 3,606.7% during the first quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock worth $30,000 after acquiring an additional 4,328 shares during the last quarter. CWM LLC raised its position in shares of MeiraGTx by 1,737.7% during the first quarter. CWM LLC now owns 8,674 shares of the company's stock worth $59,000 after acquiring an additional 8,202 shares during the last quarter. Finally, Ieq Capital LLC acquired a new position in shares of MeiraGTx in the first quarter worth approximately $83,000. Institutional investors own 67.48% of the company's stock.

About MeiraGTx

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.

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