MeiraGTx Holdings PLC (NASDAQ:MGTX) was the target of a large decrease in short interest in 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. Based on an average trading volume of 114,000 shares, the short-interest ratio is presently 5.1 days. Approximately 2.0% of the company’s shares are short sold.
MGTX has been the subject of several recent research reports. ValuEngine upgraded MeiraGTx from a “hold” rating to a “buy” rating in a report on Friday, March 6th. BidaskClub raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a research note on Thursday, March 26th. Zacks Investment Research upgraded MeiraGTx from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a report on Wednesday, March 18th. Finally, Chardan Capital reiterated a “buy” rating and issued a $45.00 price target on shares of MeiraGTx in a report on Saturday, May 9th. One 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 stock. MeiraGTx presently has an average rating of “Buy” and an average target price of $32.00.
Shares of MGTX stock traded up $0.28 during mid-day trading on Friday, hitting $15.42. 55,988 shares of the stock traded hands, compared to its average volume of 84,476. MeiraGTx has a 52-week low of $8.82 and a 52-week high of $30.23. The stock has a market cap of $565.67 million, a P/E ratio of -10.42 and a beta of 1.56. 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 stock’s fifty day moving average is $13.75 and its two-hundred day moving average is $16.66.
In related news, Director Thomas E. Shenk sold 4,482 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $15.00, for a total value of $67,230.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joel S. Marcus sold 4,922 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $15.77, for a total value of $77,619.94. The disclosure for this sale can be found here. Insiders sold a total of 10,171 shares of company stock worth $156,382 over the last 90 days. Insiders own 17.40% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of MGTX. Orbimed Advisors LLC boosted its position in shares of MeiraGTx by 3.7% in the 1st quarter. Orbimed Advisors LLC now owns 3,582,320 shares of the company’s stock worth $48,146,000 after purchasing an additional 129,300 shares in the last quarter. Johnson & Johnson Innovation JJDC Inc. acquired a new position in MeiraGTx during the 1st quarter valued at about $38,957,000. Prosight Management LP raised its stake in MeiraGTx by 9.8% in the first quarter. Prosight Management LP now owns 568,348 shares of the company’s stock valued at $7,639,000 after buying an additional 50,504 shares during the last quarter. Norges Bank acquired a new stake in MeiraGTx in the fourth quarter worth about $9,115,000. Finally, State Street Corp grew its stake in shares of MeiraGTx by 5.2% during the first quarter. State Street Corp now owns 357,488 shares of the company’s stock worth $4,805,000 after acquiring an additional 17,649 shares during the last quarter. Hedge funds and other institutional investors own 43.89% of the company’s stock.
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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