MeiraGTx Holdings PLC (NASDAQ:MGTX) saw a large decrease in short interest during the month of 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 trading volume of 181,200 shares, the short-interest ratio is presently 2.5 days. Currently, 2.3% of the company’s stock are sold short.
A number of research firms recently weighed in on MGTX. Piper Jaffray Companies began coverage on shares of MeiraGTx in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $40.00 target price on the stock. ValuEngine lowered shares of MeiraGTx from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of MeiraGTx from a “buy” rating to a “sell” rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. MeiraGTx has a consensus rating of “Hold” and a consensus price target of $32.50.
In other MeiraGTx news, Director Life Sciences Maste Perceptive bought 425,531 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $23.50 per share, for a total transaction of $9,999,978.50. The acquisition 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 large investors have recently bought and sold shares of the business. Orbimed Advisors LLC increased its stake in MeiraGTx by 5.1% in the 2nd quarter. Orbimed Advisors LLC now owns 2,586,951 shares of the company’s stock valued at $69,537,000 after buying an additional 126,700 shares during the last quarter. BlackRock Inc. grew its position in shares of MeiraGTx by 39.6% during the 2nd quarter. BlackRock Inc. now owns 789,792 shares of the company’s stock valued at $21,230,000 after acquiring an additional 224,052 shares during the period. JPMorgan Chase & Co. grew its position in shares of MeiraGTx by 2,008.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 171,168 shares of the company’s stock valued at $4,338,000 after acquiring an additional 163,050 shares during the period. Sawtooth Solutions LLC grew its position in shares of MeiraGTx by 28.3% during the 1st quarter. Sawtooth Solutions LLC now owns 137,315 shares of the company’s stock valued at $2,366,000 after acquiring an additional 30,328 shares during the period. Finally, Northern Trust Corp grew its position in shares of MeiraGTx by 7.9% during the 2nd quarter. Northern Trust Corp now owns 118,534 shares of the company’s stock valued at $3,186,000 after acquiring an additional 8,720 shares during the period. Hedge funds and other institutional investors own 37.41% of the company’s stock.
NASDAQ:MGTX traded down $0.06 on Friday, hitting $19.58. The stock had a trading volume of 109,300 shares, compared to its average volume of 159,838. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.22 and a current ratio of 5.22. The stock has a market cap of $652.04 million, a P/E ratio of -4.46 and a beta of 2.19. MeiraGTx has a 1 year low of $8.53 and a 1 year high of $30.23. The firm’s fifty day simple moving average is $22.63 and its two-hundred day simple moving average is $21.62.
MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.47). The business had revenue of $1.98 million for the quarter. Equities research analysts predict that MeiraGTx will post -2.75 EPS for the current year.
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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