Short Interest in MeiraGTx Holdings PLC (NASDAQ:MGTX) Declines By 7.5%

MeiraGTx Holdings PLC (NASDAQ:MGTX) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 579,000 shares, a decrease of 7.5% from the April 30th total of 626,000 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average daily volume of 114,000 shares, the days-to-cover ratio is currently 5.1 days.

In other news, Director Thomas E. Shenk sold 4,482 shares of MeiraGTx stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $15.00, for a total transaction of $67,230.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joel S. Marcus sold 4,922 shares of MeiraGTx stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $15.77, for a total transaction of $77,619.94. The disclosure for this sale can be found here. Insiders sold 10,171 shares of company stock valued at $156,382 in the last three months. 17.40% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Focused Wealth Management Inc grew its holdings in shares of MeiraGTx by 39.3% in the fourth quarter. Focused Wealth Management Inc now owns 2,125 shares of the company’s stock valued at $43,000 after purchasing an additional 600 shares in the last quarter. Bank of Montreal Can boosted its position in MeiraGTx by 42.6% in the 4th quarter. Bank of Montreal Can now owns 2,142 shares of the company’s stock valued at $43,000 after buying an additional 640 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of MeiraGTx by 164.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,296 shares of the company’s stock worth $71,000 after acquiring an additional 3,296 shares in the last quarter. Citigroup Inc. grew its stake in shares of MeiraGTx by 643.9% in the fourth quarter. Citigroup Inc. now owns 6,308 shares of the company’s stock worth $126,000 after acquiring an additional 5,460 shares in the last quarter. Finally, Aperio Group LLC purchased a new stake in shares of MeiraGTx during the first quarter worth $137,000. 43.89% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on MGTX shares. ValuEngine upgraded MeiraGTx from a “hold” rating to a “buy” rating in a report on Friday, March 6th. Chardan Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of MeiraGTx in a research note on Saturday, May 9th. Zacks Investment Research upgraded shares of MeiraGTx from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a research report on Wednesday, March 18th. Finally, BidaskClub upgraded shares of MeiraGTx from a “sell” rating to a “hold” rating in a report on Thursday, March 26th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $32.00.

Shares of MGTX stock traded up $0.28 on Friday, hitting $15.42. The stock had a trading volume of 55,988 shares, compared to its average volume of 84,476. The company’s 50 day moving average price is $13.75 and its 200-day moving average price is $16.66. MeiraGTx has a 1 year low of $8.82 and a 1 year high of $30.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.83 and a quick ratio of 5.83. The firm has a market capitalization of $565.67 million, a P/E ratio of -10.42 and a beta of 1.56.

MeiraGTx (NASDAQ:MGTX) last released its earnings results on Thursday, May 7th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.05. The company had revenue of $4.21 million during the quarter. MeiraGTx had a negative return on equity of 29.96% and a negative net margin of 313.70%. On average, equities analysts forecast that MeiraGTx will post -2.27 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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