MeiraGTx (NASDAQ:MGTX) CFO Richard Giroux Sells 56,000 Shares of Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) CFO Richard Giroux sold 56,000 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $9.95, for a total transaction of $557,200.00. Following the sale, the chief financial officer directly owned 852,530 shares in the company, valued at $8,482,673.50. This trade represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MeiraGTx Stock Performance

Shares of MGTX stock opened at $9.97 on Wednesday. The company has a fifty day moving average price of $12.39 and a two-hundred day moving average price of $11.40. MeiraGTx Holdings PLC has a one year low of $6.62 and a one year high of $15.35. The stock has a market cap of $957.55 million, a P/E ratio of 14.04 and a beta of 1.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.76 and a quick ratio of 3.76.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings data on Thursday, August 13th. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of ($0.46) by $2.17. MeiraGTx had a net margin of 19.87% and a return on equity of 283.85%. The company had revenue of $321.43 million for the quarter, compared to analyst estimates of $0.70 million. As a group, equities analysts predict that MeiraGTx Holdings PLC will post 0.30 EPS for the current year.

Analyst Upgrades and Downgrades

MGTX has been the topic of several research analyst reports. Weiss Ratings upgraded MeiraGTx from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of MeiraGTx in a research note on Wednesday, July 8th. Zacks Research downgraded MeiraGTx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 11th. Wall Street Zen lowered MeiraGTx from a “buy” rating to a “hold” rating in a report on Saturday, September 26th. Finally, The Goldman Sachs Group assumed coverage on MeiraGTx in a report on Thursday, September 24th. They set a “neutral” rating and a $16.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, MeiraGTx currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Institutional Investors Weigh In On MeiraGTx

Hedge funds have recently bought and sold shares of the stock. Johnson & Johnson acquired a new position in shares of MeiraGTx in the second quarter valued at approximately $89,720,775. BlackRock Inc. bought a new position in shares of MeiraGTx during the second quarter worth approximately $64,269,000. Opaleye Management Inc. lifted its holdings in MeiraGTx by 67.2% during the 2nd quarter. Opaleye Management Inc. now owns 3,550,000 shares of the company’s stock worth $47,960,000 after purchasing an additional 1,426,741 shares during the last quarter. Rubric Capital Management LP lifted its holdings in MeiraGTx by 13.4% during the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock worth $60,620,000 after purchasing an additional 824,669 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new stake in MeiraGTx during the 2nd quarter worth approximately $6,427,000. 67.48% of the stock is currently owned by institutional investors and hedge funds.

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.