Alexandria Forbes Sells 47,500 Shares of MeiraGTx Holdings plc (NASDAQ:MGTX) Stock

MeiraGTx Holdings plc (NASDAQ:MGTX) CEO Alexandria Forbes sold 47,500 shares of MeiraGTx stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total value of $253,650.00. Following the sale, the chief executive officer now directly owns 1,408,983 shares of the company’s stock, valued at $7,523,969.22. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

MeiraGTx Stock Performance

MGTX traded down $0.51 during trading on Tuesday, reaching $5.24. The company’s stock had a trading volume of 925,442 shares, compared to its average volume of 305,736. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34. The company’s fifty day moving average price is $6.78 and its 200-day moving average price is $6.16. MeiraGTx Holdings plc has a 52-week low of $3.85 and a 52-week high of $8.75. The company has a market capitalization of $413.20 million, a price-to-earnings ratio of -4.33, a price-to-earnings-growth ratio of 0.37 and a beta of 1.21.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.02). MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. The company had revenue of $21.39 million during the quarter, compared to analyst estimates of $1.50 million. On average, equities analysts forecast that MeiraGTx Holdings plc will post -1.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MeiraGTx

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers increased its position in MeiraGTx by 6.1% during the 1st quarter. Rhumbline Advisers now owns 58,227 shares of the company’s stock worth $395,000 after purchasing an additional 3,336 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 buying an additional 4,328 shares in the last quarter. Wellington Management Group LLP raised its position in shares of MeiraGTx by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 151,126 shares of the company’s stock valued at $920,000 after buying an additional 1,379 shares during the last quarter. Woodline Partners LP acquired a new position in shares of MeiraGTx in the fourth quarter valued at approximately $9,349,000. Finally, Sanofi purchased a new position in shares of MeiraGTx during the fourth quarter valued at approximately $74,284,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MGTX shares. Royal Bank of Canada raised their price objective on MeiraGTx from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Monday, March 17th. Chardan Capital restated a “buy” rating and set a $36.00 price target on shares of MeiraGTx in a research note on Monday, February 24th.

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.