MeiraGTx Holdings PLC (NASDAQ:MGTX) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 458,200 shares, a drop of 47.6% from the July 31st total of 874,600 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily volume of 181,200 shares, the days-to-cover ratio is presently 2.5 days.
Shares of NASDAQ MGTX traded down $0.06 during trading on Friday, reaching $19.58. 109,300 shares of the company traded hands, compared to its average volume of 159,838. The firm has a 50 day simple moving average of $22.63 and a 200-day simple moving average of $21.62. The company has a quick ratio of 5.22, a current ratio of 5.22 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $652.04 million, a PE ratio of -4.46 and a beta of 2.19. MeiraGTx has a 52-week low of $8.53 and a 52-week high of $30.23.
MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.47). The firm had revenue of $1.98 million for the quarter. As a group, research analysts predict that MeiraGTx will post -2.75 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in MGTX. Bank of Montreal Can purchased a new stake in shares of MeiraGTx during the 2nd quarter valued at about $35,000. BNP Paribas Arbitrage SA boosted its holdings in shares of MeiraGTx by 50,220.0% during the 1st 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 purchased a new stake in shares of MeiraGTx during the 2nd quarter valued at about $57,000. Geode Capital Management LLC boosted its holdings in shares of MeiraGTx by 54.1% during the 4th 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 purchased a new stake in shares of MeiraGTx during the 1st quarter valued at about $182,000. 37.41% of the stock is currently owned by hedge funds and other institutional investors.
MGTX has been the subject of a number of analyst reports. ValuEngine lowered shares of MeiraGTx from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered shares of MeiraGTx from a “buy” rating to a “sell” rating in a research note on Wednesday, May 29th. Finally, Piper Jaffray Companies initiated coverage on shares of MeiraGTx in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $40.00 price objective for the company. 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 stock. MeiraGTx presently has a consensus rating of “Hold” and an average target price 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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