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

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

A number of brokerages recently weighed in on MGTX. ValuEngine cut shares of MeiraGTx from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Chardan Capital reissued a “buy” rating and set a $45.00 target price on shares of MeiraGTx in a research note on Monday, December 16th. Zacks Investment Research cut shares of MeiraGTx from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $40.00 target price on shares of MeiraGTx in a research 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 issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $33.00.

In other MeiraGTx news, Director Nicole Seligman bought 5,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 5,000 shares in the company, valued at $81,550. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orbimed Advisors LLC boosted its position in MeiraGTx by 29.5% during the 3rd quarter. Orbimed Advisors LLC now owns 3,349,060 shares of the company’s stock worth $53,418,000 after acquiring an additional 762,109 shares during the period. BlackRock Inc. boosted its position in MeiraGTx by 39.6% during the 2nd quarter. BlackRock Inc. now owns 789,792 shares of the company’s stock worth $21,230,000 after acquiring an additional 224,052 shares during the period. State Street Corp boosted its position in MeiraGTx by 19.3% during the 3rd quarter. State Street Corp now owns 318,242 shares of the company’s stock worth $5,076,000 after acquiring an additional 51,522 shares during the period. Millennium Management LLC boosted its position in MeiraGTx by 519.2% during the 3rd quarter. Millennium Management LLC now owns 204,966 shares of the company’s stock worth $3,269,000 after acquiring an additional 171,866 shares during the period. Finally, Northern Trust Corp boosted its position in MeiraGTx by 7.9% during the 2nd quarter. Northern Trust Corp now owns 118,534 shares of the company’s stock worth $3,186,000 after acquiring an additional 8,720 shares during the period. Hedge funds and other institutional investors own 42.18% of the company’s stock.

Shares of NASDAQ:MGTX traded up $0.38 during midday trading on Thursday, reaching $20.50. The company had a trading volume of 6,381 shares, compared to its average volume of 148,336. MeiraGTx has a 1-year low of $9.10 and a 1-year high of $30.23. The firm has a market cap of $735.09 million, a price-to-earnings ratio of -4.68 and a beta of 2.20. The company has a debt-to-equity ratio of 0.11, a quick ratio of 6.90 and a current ratio of 6.90. The company has a fifty day simple moving average of $20.37 and a two-hundred day simple moving average of $20.32.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.22. The business had revenue of $3.58 million for the quarter. Analysts expect that MeiraGTx will post -2.22 EPS for the current year.

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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