Short Interest in MeiraGTx Holdings PLC (NASDAQ:MGTX) Drops By 47.6%
MeiraGTx Holdings PLC (NASDAQ:MGTX) saw 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. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 181,200 shares, the short-interest ratio is presently 2.5 days.
Shares of MeiraGTx stock traded down $0.06 during trading on Friday, hitting $19.58. The company’s 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 current ratio of 5.22 and a quick ratio of 5.22. MeiraGTx has a 52 week low of $8.53 and a 52 week high of $30.23. The stock has a market cap of $652.04 million, a price-to-earnings ratio of -4.46 and a beta of 2.19. The stock has a 50-day moving average price of $22.63 and a two-hundred day moving average price of $21.62.
MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.47). The company had revenue of $1.98 million for the quarter. On average, equities analysts predict that MeiraGTx will post -2.75 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in shares of MeiraGTx in the second quarter worth $35,000. BNP Paribas Arbitrage SA boosted its position in MeiraGTx by 50,220.0% during 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 last quarter. Focused Wealth Management Inc bought a new stake in MeiraGTx during the second quarter valued at $57,000. Geode Capital Management LLC boosted its position in MeiraGTx by 54.1% during 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 last quarter. Finally, Fort Sheridan Advisors LLC bought a new stake in MeiraGTx during the first quarter valued at $182,000. 37.41% of the stock is currently owned by institutional investors.
MGTX has been the topic of several analyst reports. ValuEngine cut shares of MeiraGTx from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Piper Jaffray Companies initiated coverage on shares of MeiraGTx in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $40.00 price objective on the stock. Finally, Zacks Investment Research cut shares of MeiraGTx from a “buy” rating to a “sell” rating in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. MeiraGTx has an average rating of “Hold” and a consensus price target of $32.50.
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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