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

MeiraGTx Holdings PLC (NASDAQ:MGTX) CEO Alexandria Forbes sold 62,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were 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 in the company, valued at $10,742,239.95. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

MeiraGTx Stock Performance

NASDAQ MGTX opened at $7.53 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 26.29. MeiraGTx Holdings PLC has a fifty-two week low of $4.55 and a fifty-two week high of $9.73. The business has a fifty day moving average of $7.57 and a 200-day moving average of $7.94. The stock has a market cap of $606.10 million, a price-to-earnings ratio of -3.57 and a beta of 1.37.

Analyst Ratings Changes

MGTX has been the topic of a number of recent analyst reports. Zacks Research raised MeiraGTx from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.00.

Institutional Inflows and Outflows

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

About MeiraGTx

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.