MGTX
MeiraGTx Holdings plcHealthcare·Biotechnology
$10.65
$986M market cap
Revenue
$75.7M
Free Cash Flow
$55.7M
Rev Growth
+0.0%
FCF Margin
73.6%
P/FCF
17.7x
EV/FCF
18.0x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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 blindness, as well as Xerostomia following radiation treatment for head and neck cancers; degenerative diseases; neurodegenerative diseases, such as amyotrophic lateral sclerosis; and Parkinson's diseases. Its programs in clinical development include Phase 1/2 clinical stage programs in
2-Year Price History
$9.24+88.6%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.3 | -37.8 | -40.8 | -46.3 | 17.8 | 15.8 | -2.0 | 71.5 | 87.5 | 81.3 | -186.5% | -13.3x | -- |
| Act | 2025-Q4 | 75.4 | 21.3 | 26.5 | 15.1 | 46.6 | 39.9 | -6.8 | 65.9 | 88.7 | 81.1 | 119.4% | 7.0x | -- |
Valuation & Metrics
Market Stats
Price$10.65
Market Cap$986M
Enterprise Value$1.0B
P/S Ratio13.0x
P/FCF17.7x
EV/FCF18.0x
FCF Margin (TTM)73.6%
FCF Yield5.6%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$75.7M
Net Income$-31.2M
Free Cash Flow$55.7M
Revenue Growth (YoY)+0.0%
EBITDA Margin-21.8%
Net Margin-41.3%
FCF Margin73.6%
CapEx % of Revenue11.6%
SBC % of Revenue43.2%
ROIC-33.6%
WC Change % Rev8.4%
Interest Coverage-2.8x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares5.7M
Days to Cover4.3
Change (vs Prior)+23.9%
Need at least 2 settlement dates for chart
Employees
Headcount375
Revenue / Employee$201,752
Gross Profit / Employee$191,933
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
60.6%(+19.0% YoY)
123 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
5.1%(+0.9% YoY)
6 filers
Vanguard, iShares, SPDR
Market makers
0.1%(+0.0% YoY)
4 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Sanofi | $106M | $6.09 | +$0 | +$0 | +2.6% | $336M |
| PERCEPTIVE ADVISORS LLC | $89.3M | $6.16 | +$0 | −$19.5M | -1.3% | $5.05B |
| Rubric Capital Management LP | $60.6M | $7.34 | +$7.1M | +$45.2M | +0.4% | $8.16B |
| JOHNSON & JOHNSON | $57.5M | $6.52 | +$0 | +$0 | -7.1% | $652M |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $34.6M | $6.80 | +$0 | −$14.2M | -0.1% | $64.61B |
| MILLENNIUM MANAGEMENT LLC | $30.0M | $7.71 | +$2.5M | +$30.0M | -0.5% | $127.40B |
| BlackRock, Inc.Passive | $27.4M | $4.88 | +$851K | +$344K | -0.2% | $5.69T |
| Prosight Management, LP | $22.8M | $6.40 | −$5.0M | −$9.2M | -16.3% | $610M |
| 683 Capital Management, LLC | $21.2M | $6.93 | −$945K | −$1.1M | -2.2% | $1.02B |
| Opaleye Management Inc. | $18.4M | $8.53 | +$15.0M | +$18.4M | +0.9% | $759M |
| MORGAN STANLEY | $13.8M | $7.60 | −$2.1M | +$10.8M | -0.3% | $1.65T |
| Knoll Capital Management, LLC | $10.8M | $4.17 | +$0 | +$0 | -5.7% | $180M |
| KENNEDY CAPITAL MANAGEMENT LLC | $7.4M | $8.51 | +$6.8M | +$7.1M | -1.5% | $4.72B |
| STATE STREET CORPPassive | $6.5M | $6.79 | +$207K | +$946K | -0.2% | $2.89T |
| Logos Global Management LP | $6.1M | $8.66 | +$6.1M | +$6.1M | -1.6% | $1.94B |
| Erste Asset Management GmbH | $5.8M | $6.82 | −$606K | −$566K | -1.1% | $10.79B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $5.1M | $5.80 | +$96K | −$113K | +2.3% | $1.61T |
| Long Focus Capital Management, LLC | $4.5M | $6.39 | +$0 | +$2.4M | -1.6% | $2.22B |
| GOLDMAN SACHS GROUP INC | $3.8M | $6.71 | −$133K | +$2.1M | -0.2% | $760.93B |
| D. E. Shaw & Co., Inc. | $3.7M | $7.63 | +$377K | +$3.3M | -0.3% | $118.02B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
-1.14%
avg per quarter
Holders (ex-self)
-1.41%
excl. this stock
Buyers (this Q)
-0.10%
61 buyers · $0.06B in
Sellers (this Q)
-5.99%
47 sellers · $0.01B out
alpha coverage: 99% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-7.3%
how holders react when this stock falls
On quiet Qs
+14.7%
−10% to +10% baseline
On rallies (+10%+)
-4.1%
how they react when this stock rises
Holders' portfolio flow this Q
-0.8%
outflows — trims may be forced
Sellers' portfolio flow this Q
+11.8%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-3.3%
Holder mid (any stock)
-4.2%
Holder rally (any stock)
-4.3%
Biggest decreases this quarter
Prosight Management, LP−$5.0Mα-16.322NW, LPexited−$4.7MSTEMPOINT CAPITAL LPexited−$2.3MMORGAN STANLEY−$2.1Mα-0.3ROYCE & ASSOCIATES LPexited−$1.4M683 Capital Management, LLC−$945Kα-2.2Erste Asset Management GmbH−$606Kα-1.1Y-Intercept (Hong Kong) Ltdexited−$521KVARCOV Co.exited−$262KFOX RUN MANAGEMENT, L.L.C.exited−$179K
New buyers this quarter
Top-5 holders · 59.6%
Sanofi--
PERCEPTIVE ADVISORS LLC--
Rubric Capital Management LP--
JOHNSON & JOHNSON--
ADAGE CAPITAL PARTNERS GP, L.L.C.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
PERCEPTIVE ADVISORS LLC10.3MSanofi12.2MORBIMED ADVISORS LLC—JOHNSON & JOHNSON6.6MADAGE CAPITAL PARTNERS GP, L.L.C.4.0MRubric Capital Management LP7.0MPRICE T ROWE ASSOCIATES INC /MD/31KJohnson & Johnson Innovation - JJDC, Inc.—Prosight Management, LP2.6M683 Capital Management, LLC2.5M
Related Stocks
Investors who own this also own
Stocks held by the same active managers as this one, ranked by score — how much more often these appear together than random chance (1× = baseline). Excludes index ETFs and market makers; minimum 3 shared holders.
| Ticker | Name | Co-holders | Score |
|---|---|---|---|
| PTGX | Protagonist Therapeutics, Inc. | 3 | 170.68× |
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (2 analysts)$25.0013470.0%
Last Year (4 analysts)$21.5010190.0%
Current Price$10.65
Analyst Ratings
6
Buy: 6Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$3.05M
8 txns · 3 insiders · 350,661 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-19 | SELL | Forbes Alexandria | director, officer: PRESIDENT & CEO | 62,000 | $9.17 | $569K | $12.73M |
| 2026-04-21 | SELL | Giroux Richard | officer: CFO & COO | 56,000 | $10.22 | $572K | $9.93M |
| 2026-04-07 | SELL | Naylor Stuart | officer: CHIEF DEV. OFFICER | 27,661 | $9.36 | $259K | $6.26M |
| 2026-03-24 | SELL | Forbes Alexandria | director, officer: PRESIDENT & CEO | 62,000 | $7.41 | $459K | $10.74M |
| 2025-10-21 | SELL | Giroux Richard | officer: CFO & COO | 24,000 | $8.87 | $213K | $7.36M |
| 2025-10-07 | SELL | Forbes Alexandria | director, officer: PRESIDENT & CEO | 47,500 | $8.39 | $399K | $11.02M |
| 2025-07-22 | SELL | Giroux Richard | officer: CFO & COO | 24,000 | $8.52 | $204K | $7.27M |
| 2025-07-08 | SELL | Forbes Alexandria | director, officer: PRESIDENT & CEO | 47,500 | $7.97 | $379K | $10.85M |
Order Flow (FINRA, ~3w lag)
16.8%retail-0.6pp
23.3%dark-1.4pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
MeiraGTx: Structural Insolvency Masked by Complex Asset Monetization and Related-Party Debt
Overall Risk
8/10
Fraud
4/10
Dilution
9/10
Insolvency
9/10
Earnings Overstated
5/10
Hidden Liabilities
4/10
Legal
3/10
Audit Warnings
7/10
Hidden Upside
7/10
Contextually Acceptable
4/10