MeiraGTx Holdings PLC (NASDAQ:MGTX) Sees Large Growth in Short Interest

MeiraGTx Holdings PLC (NASDAQ:MGTX) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 841,500 shares, an increase of 11.4% from the December 15th total of 755,700 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 160,700 shares, the short-interest ratio is presently 5.2 days.

A number of research analysts have recently issued reports on MGTX shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $40.00 target price on shares of MeiraGTx in a research note on Monday, December 16th. ValuEngine downgraded MeiraGTx from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Zacks Investment Research lowered MeiraGTx from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of MeiraGTx in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $33.00.

Shares of NASDAQ:MGTX traded up $0.38 during midday trading on Thursday, reaching $20.50. The company’s stock had a trading volume of 6,381 shares, compared to its average volume of 148,336. The business’s fifty day simple moving average is $20.37 and its 200-day simple moving average is $20.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.90 and a quick ratio of 6.90. MeiraGTx has a fifty-two week low of $9.10 and a fifty-two week high of $30.23. The company has a market capitalization of $735.09 million, a P/E ratio of -4.68 and a beta of 2.20.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.30) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.22. The company had revenue of $3.58 million for the quarter. On average, analysts forecast that MeiraGTx will post -2.22 earnings per share for the current fiscal year.

In other news, Director Nicole Seligman purchased 5,000 shares of MeiraGTx stock in a transaction on Tuesday, November 19th. The shares were purchased at an average cost of $16.31 per share, for a total transaction of $81,550.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $81,550. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.40% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new position in shares of MeiraGTx during the second quarter valued at $35,000. Meeder Asset Management Inc. boosted its stake in MeiraGTx by 2,168.0% in the third quarter. Meeder Asset Management Inc. now owns 3,334 shares of the company’s stock valued at $53,000 after acquiring an additional 3,187 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in MeiraGTx in the third quarter valued at approximately $72,000. Bowling Portfolio Management LLC bought a new position in MeiraGTx in the third quarter valued at approximately $216,000. Finally, Rhumbline Advisers grew its holdings in MeiraGTx by 5.6% during the 3rd quarter. Rhumbline Advisers now owns 19,075 shares of the company’s stock worth $304,000 after acquiring an additional 1,005 shares during the period. Hedge funds and other institutional investors own 42.18% of the company’s stock.

About MeiraGTx

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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