MeiraGTx Holdings plc (NASDAQ:MGTX) CEO Sells $253,650.00 in Stock

MeiraGTx Holdings plc (NASDAQ:MGTX) CEO Alexandria Forbes sold 47,500 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total transaction of $253,650.00. Following the transaction, the chief executive officer now directly owns 1,408,983 shares in the company, valued at approximately $7,523,969.22. This represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

MeiraGTx Stock Down 8.9 %

Shares of 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 market cap of $413.20 million, a price-to-earnings ratio of -4.33, a P/E/G ratio of 0.37 and a beta of 1.21. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average of $6.78 and a two-hundred day moving average of $6.16. MeiraGTx Holdings plc has a twelve month low of $3.85 and a twelve month high of $8.75.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.50) earnings per share 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 firm had revenue of $21.39 million during the quarter, compared to the consensus estimate of $1.50 million. On average, sell-side analysts predict that MeiraGTx Holdings plc will post -1.48 EPS for the current fiscal year.

Analysts Set New Price Targets

MGTX has been the topic of several research reports. Royal Bank of Canada raised their price target on shares of MeiraGTx from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Monday, March 17th. Chardan Capital reissued a “buy” rating and issued a $36.00 price objective on shares of MeiraGTx in a research report on Monday, February 24th.

Institutional Investors Weigh In On MeiraGTx

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new stake in MeiraGTx in the 4th quarter valued at approximately $459,000. Barclays PLC boosted its position in MeiraGTx by 107.1% during the 3rd quarter. Barclays PLC now owns 147,827 shares of the company’s stock worth $618,000 after acquiring an additional 76,437 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of MeiraGTx by 13.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 112,021 shares of the company’s stock worth $682,000 after purchasing an additional 12,961 shares in the last quarter. State Street Corp increased its holdings in shares of MeiraGTx by 0.9% during the third quarter. State Street Corp now owns 574,727 shares of the company’s stock valued at $2,397,000 after purchasing an additional 5,251 shares during the period. Finally, Garden State Investment Advisory Services LLC bought a new stake in shares of MeiraGTx during the third quarter valued at about $1,636,000. 67.48% of the stock is currently owned by institutional investors.

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.