MeiraGTx (NASDAQ:MGTX) CFO Sells $557,200.00 in Stock

MeiraGTx Holdings PLC (NASDAQ:MGTX) CFO Richard Giroux sold 56,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $8,482,673.50. This trade represents a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MeiraGTx Trading Up 5.5%

Shares of NASDAQ:MGTX traded up $0.52 during mid-day trading on Tuesday, hitting $9.97. The company had a trading volume of 755,861 shares, compared to its average volume of 1,084,015. 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 Holdings PLC has a one year low of $6.62 and a one year high of $15.35. The firm has a fifty day moving average price of $12.39 and a 200 day moving average price of $11.40. The company has a market capitalization of $957.52 million, a PE ratio of 14.04 and a beta of 1.35.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings results on Thursday, August 13th. The company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $2.17. MeiraGTx had a net margin of 19.87% and a return on equity of 283.85%. The business had revenue of $321.43 million during the quarter, compared to analysts’ expectations of $0.70 million. As a group, research analysts forecast that MeiraGTx Holdings PLC will post 0.30 EPS for the current year.

Wall Street Analysts Forecast Growth

MGTX has been the subject of several research reports. Royal Bank Of Canada raised their target price on MeiraGTx from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of MeiraGTx in a report on Wednesday, July 8th. Zacks Research lowered MeiraGTx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 11th. The Goldman Sachs Group started coverage on MeiraGTx in a research note on Thursday, September 24th. They issued a “neutral” rating and a $16.00 price objective for the company. Finally, Wall Street Zen downgraded MeiraGTx from a “buy” rating to a “hold” rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, MeiraGTx currently has an average rating of “Moderate Buy” and a consensus target price of $24.71.

Institutional Investors Weigh In On MeiraGTx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Algert Global LLC boosted its position in MeiraGTx by 13.9% in the second quarter. Algert Global LLC now owns 11,700 shares of the company’s stock worth $158,000 after purchasing an additional 1,430 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of MeiraGTx during the 1st quarter valued at $105,000. Perigon Wealth Management LLC purchased a new stake in shares of MeiraGTx during the 2nd quarter valued at $203,000. Arizona State Retirement System purchased a new stake in shares of MeiraGTx during the 2nd quarter valued at $207,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of MeiraGTx during the 2nd quarter worth $230,000. 67.48% of the stock is owned by hedge funds and other institutional investors.

About MeiraGTx

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.