MeiraGTx Holdings PLC (NASDAQ:MGTX) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 458,200 shares, a decrease of 47.6% from the July 31st total of 874,600 shares. Based on an average daily volume of 181,200 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.3% of the shares of the company are short sold.
A number of research analysts recently commented on the company. Piper Jaffray Companies assumed coverage on MeiraGTx in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $40.00 target price for the company. Zacks Investment Research lowered MeiraGTx from a “buy” rating to a “sell” rating in a research note on Wednesday, May 29th. Finally, ValuEngine lowered MeiraGTx from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $32.50.
In other news, Director Life Sciences Maste Perceptive bought 425,531 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $23.50 per share, for a total transaction of $9,999,978.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 17.40% of the company’s stock.
Large investors have recently made changes to their positions in the business. Bank of Montreal Can bought a new stake in MeiraGTx in the second quarter valued at $35,000. BNP Paribas Arbitrage SA grew its position in MeiraGTx by 50,220.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,516 shares of the company’s stock valued at $43,000 after acquiring an additional 2,511 shares during the period. Focused Wealth Management Inc bought a new stake in MeiraGTx in the second quarter valued at $57,000. Geode Capital Management LLC grew its position in MeiraGTx by 54.1% in the fourth quarter. Geode Capital Management LLC now owns 16,625 shares of the company’s stock valued at $160,000 after acquiring an additional 5,834 shares during the period. Finally, Fort Sheridan Advisors LLC bought a new stake in MeiraGTx in the first quarter valued at $182,000. Hedge funds and other institutional investors own 37.41% of the company’s stock.
NASDAQ:MGTX traded down $0.06 during trading hours on Friday, reaching $19.58. The company had a trading volume of 109,300 shares, compared to its average volume of 159,838. The stock has a 50-day moving average of $22.63 and a two-hundred day moving average of $21.62. MeiraGTx has a one year low of $8.53 and a one year high of $30.23. The firm has a market capitalization of $652.04 million, a PE ratio of -4.46 and a beta of 2.19. The company has a quick ratio of 5.22, a current ratio of 5.22 and a debt-to-equity ratio of 0.12.
MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.47). The business had revenue of $1.98 million during the quarter. As a group, sell-side analysts expect that MeiraGTx will post -2.75 earnings per share for the current year.
MeiraGTx Company Profile
MeiraGTx Holdings plc, a clinical-stage gene therapy company, focusing on developing treatments for patients living with serious diseases. The company develops various therapies for ocular diseases, including rare inherited blindness, as well as Xerostomia following radiation treatment for head and neck cancers; neurodegenerative diseases, such as amyothrophic lateral sclerosis; and Parkinson's diseases.
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