MeiraGTx (NASDAQ:MGTX) Issues Earnings Results

MeiraGTx (NASDAQ:MGTX) issued its quarterly earnings data on Thursday. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.79, Zacks reports. MeiraGTx had a negative net margin of 615.27% and a negative return on equity of 1,065.47%. The business had revenue of $75.36 million during the quarter, compared to the consensus estimate of $3.87 million.

MeiraGTx Price Performance

Shares of NASDAQ:MGTX traded down $0.09 during midday trading on Friday, hitting $7.44. The company’s stock had a trading volume of 138,294 shares, compared to its average volume of 402,290. The company has a market cap of $598.93 million, a P/E ratio of -3.53 and a beta of 1.37. MeiraGTx has a 12-month low of $4.55 and a 12-month high of $9.73. The business’s 50 day simple moving average is $7.57 and its 200 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.

Insider Buying and Selling

In other news, CEO Alexandria Forbes sold 62,000 shares of the business’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 transaction of $459,420.00. Following the transaction, the chief executive officer directly owned 1,449,695 shares in the company, valued at $10,742,239.95. The trade was a 4.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On MeiraGTx

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP lifted its position in MeiraGTx by 65.7% during the fourth quarter. Rubric Capital Management LP now owns 6,175,331 shares of the company’s stock worth $49,094,000 after buying an additional 2,448,880 shares in the last quarter. Millennium Management LLC grew its holdings in MeiraGTx by 23.5% in the 4th quarter. Millennium Management LLC now owns 3,176,390 shares of the company’s stock valued at $25,252,000 after buying an additional 604,121 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of MeiraGTx by 7.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,034,578 shares of the company’s stock worth $39,345,000 after acquiring an additional 400,000 shares during the last quarter. Opaleye Management Inc. purchased a new position in shares of MeiraGTx during the 4th quarter worth $3,107,000. Finally, Bank of America Corp DE boosted its position in shares of MeiraGTx by 493.8% during the 2nd quarter. Bank of America Corp DE now owns 266,666 shares of the company’s stock valued at $1,739,000 after acquiring an additional 221,755 shares during the last quarter. Institutional investors and hedge funds own 67.48% of the company’s stock.

Key MeiraGTx News

Here are the key news stories impacting MeiraGTx this week:

• Positive Sentiment: Quarterly results materially beat expectations: MeiraGTx reported $0.19 EPS vs. consensus loss of ($0.60) and revenue of $75.36M vs. ~$3.87M expected — a surprise that likely buoyed the stock by validating near-term commercial/recurring revenue drivers. Quarterly Press Release
• Positive Sentiment: FDA granted Breakthrough Therapy Designation for AAV2‑hAQP1 to treat Grade 2/3 radiation‑induced xerostomia — a regulatory win that can accelerate development and enhance the program’s commercial value. GlobeNewswire Release
• Positive Sentiment: Chardan Capital reaffirmed a Buy and set a $35 price target — a very bullish analyst projection (large percentage upside) that may support investor interest and higher trading volume. Benzinga Note
• Positive Sentiment: Institutional ownership rising: recent 4Q moves show large purchases by Rubric Capital, Millennium and others — heavy institutional inflows can provide demand support for the shares. MarketBeat Holdings Note
• Neutral Sentiment: Analyst coverage mixed: Zacks upgraded MGTX to Hold from Strong Sell, and consensus ratings range from Sell to Strong Buy — implies diverging views that could keep volatility elevated. Zacks Article
• Negative Sentiment: Insider selling: CEO Alexandria Forbes sold 62,000 shares (~$459K) last week — a disclosure that can create short‑term caution among investors despite remaining significant insider ownership. SEC Form 4
• Negative Sentiment: Profitability metrics remain poor on a GAAP basis: company reported very negative net margin and ROE figures, which underscore ongoing operational losses and execution risk despite the revenue beat. Quarterly Press Release

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research upgraded MeiraGTx from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Chardan Capital reissued a “buy” rating and issued a $35.00 price objective on shares of MeiraGTx in a report on Friday. Bank of America boosted their price objective on MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, MeiraGTx presently has an average rating of “Moderate Buy” and an average price target of $24.33.

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.