MeiraGTx Holdings PLC (NASDAQ:MGTX) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 874,600 shares, a growth of 5.2% from the June 30th total of 831,600 shares. Based on an average daily volume of 175,200 shares, the days-to-cover ratio is currently 5.0 days. Approximately 6.8% of the company’s shares are short sold.
Several research firms have commented on MGTX. ValuEngine downgraded MeiraGTx from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Chardan Capital reiterated a “buy” rating on shares of MeiraGTx in a research report on Tuesday, May 14th. Zacks Investment Research downgraded MeiraGTx from a “buy” rating to a “sell” rating in a research report on Wednesday, May 29th. Finally, Barclays increased their target price on MeiraGTx from $20.00 to $30.00 and gave the company a “positive” rating in a research report on Wednesday, May 15th.
MeiraGTx stock traded down $0.05 during trading hours on Friday, hitting $21.11. The stock had a trading volume of 181,300 shares, compared to its average volume of 163,749. The company has a quick ratio of 6.96, a current ratio of 5.22 and a debt-to-equity ratio of 0.12. The stock has a market cap of $709.78 million, a price-to-earnings ratio of -4.81 and a beta of 1.99. MeiraGTx has a one year low of $8.53 and a one year high of $30.23. The business’s 50 day simple moving average is $26.67 and its 200-day simple moving average is $20.65.
MeiraGTx (NASDAQ:MGTX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.47). The business had revenue of $1.98 million during the quarter.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of MeiraGTx by 39.6% during the second 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 last quarter. Norges Bank bought a new position in shares of MeiraGTx during the fourth quarter worth about $1,928,000. JPMorgan Chase & Co. raised its position in shares of MeiraGTx by 2,008.5% during the second quarter. JPMorgan Chase & Co. now owns 171,168 shares of the company’s stock worth $4,338,000 after acquiring an additional 163,050 shares during the last quarter. Sawtooth Solutions LLC raised its position in shares of MeiraGTx by 28.3% during the first quarter. Sawtooth Solutions LLC now owns 137,315 shares of the company’s stock worth $2,366,000 after acquiring an additional 30,328 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of MeiraGTx by 7.9% during the second 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 last quarter. Hedge funds and other institutional investors own 35.51% of the company’s stock.
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.
Further Reading: Hold Rating
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