MeiraGTx Holdings PLC (NASDAQ:MGTX) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 765,900 shares, an increase of 22.7% from the August 30th total of 624,200 shares. Based on an average trading volume of 185,700 shares, the days-to-cover ratio is presently 4.1 days. Currently, 3.6% of the company’s shares are short sold.
MGTX traded down $0.12 on Friday, reaching $14.37. 173,414 shares of the company’s stock were exchanged, compared to its average volume of 225,832. The company’s 50 day moving average is $18.44 and its 200-day moving average is $21.43. The company has a market cap of $487.86 million, a price-to-earnings ratio of -3.27 and a beta of 2.11. MeiraGTx has a twelve month low of $8.53 and a twelve month high of $30.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.22 and a current ratio of 5.22.
MeiraGTx (NASDAQ:MGTX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.47). The company had revenue of $1.98 million for the quarter. Sell-side analysts forecast that MeiraGTx will post -2.47 EPS for the current year.
MGTX has been the subject of a number of research analyst reports. Piper Jaffray Companies initiated coverage on shares of MeiraGTx in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $40.00 target price for the company. ValuEngine raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Chardan Capital reissued a “buy” rating and set a $45.00 target price on shares of MeiraGTx in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $33.75.
In related news, Director Life Sciences Maste Perceptive acquired 425,531 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $23.50 per share, with a total value of $9,999,978.50. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 17.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of MGTX. Rhumbline Advisers acquired a new stake in MeiraGTx in the first quarter valued at approximately $240,000. Focused Wealth Management Inc acquired a new stake in MeiraGTx in the second quarter valued at approximately $57,000. Strs Ohio grew its position in MeiraGTx by 138.4% in the second quarter. Strs Ohio now owns 26,700 shares of the company’s stock valued at $717,000 after acquiring an additional 15,500 shares in the last quarter. Financial Advisory Service Inc. acquired a new stake in MeiraGTx in the second quarter valued at approximately $230,000. Finally, Ibex Investors LLC acquired a new stake in MeiraGTx in the second quarter valued at approximately $278,000. 37.41% of the stock is owned by hedge funds and other institutional investors.
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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