MeiraGTx (NASDAQ:MGTX) CEO Alexandria Forbes Sells 62,000 Shares of Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) CEO Alexandria Forbes sold 62,000 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $7.41, for a total transaction of $459,420.00. Following the completion of the sale, the chief executive officer owned 1,449,695 shares of the company’s stock, valued at $10,742,239.95. This trade represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

MeiraGTx Stock Performance

MeiraGTx stock opened at $7.62 on Thursday. MeiraGTx Holdings PLC has a fifty-two week low of $4.55 and a fifty-two week high of $9.73. The stock’s 50 day simple moving average is $7.58 and its two-hundred day simple moving average is $7.94. 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 market cap of $613.33 million, a price-to-earnings ratio of -3.61 and a beta of 1.37.

Institutional Investors Weigh In On MeiraGTx

Several hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in shares of MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after purchasing an additional 1,466 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of MeiraGTx in the 3rd quarter worth approximately $33,000. Tower Research Capital LLC TRC grew its stake in shares of MeiraGTx by 390.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock worth $57,000 after buying an additional 7,005 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of MeiraGTx in the 4th quarter worth approximately $94,000. Finally, Abel Hall LLC bought a new position in MeiraGTx during the 4th quarter valued at approximately $98,000. Institutional investors own 67.48% of the company’s stock.

Analyst Upgrades and Downgrades

MGTX has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a research report on Thursday, January 22nd. Zacks Research upgraded MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

MeiraGTx Company Profile

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.