Short Interest in MeiraGTx Holdings plc (NASDAQ:MGTX) Increases By 16.9%

MeiraGTx Holdings plc (NASDAQ:MGTX - Get Free Report) was the target of a large growth in short interest in May. As of May 15th, there was short interest totalling 2,830,000 shares, a growth of 16.9% from the April 30th total of 2,420,000 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 674,000 shares, the days-to-cover ratio is presently 4.2 days.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of MeiraGTx from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Royal Bank of Canada increased their target price on shares of MeiraGTx from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Monday, March 17th. Finally, Chardan Capital decreased their target price on shares of MeiraGTx from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th.

Insider Buying and Selling

In related news, CFO Richard Giroux sold 24,000 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $6.00, for a total value of $144,000.00. Following the completion of the transaction, the chief financial officer now owns 882,494 shares in the company, valued at $5,294,964. This represents a 2.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Alexandria Forbes sold 47,500 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $5.34, for a total transaction of $253,650.00. Following the completion of the transaction, the chief executive officer now owns 1,408,983 shares of the company's stock, valued at $7,523,969.22. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company's stock.

Hedge Funds Weigh In On MeiraGTx

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of MeiraGTx by 3,606.7% during the 1st quarter. GAMMA Investing LLC now owns 4,448 shares of the company's stock valued at $30,000 after purchasing an additional 4,328 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of MeiraGTx by 106.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock worth $30,000 after buying an additional 2,515 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of MeiraGTx by 68.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock worth $30,000 after buying an additional 2,016 shares during the period. CWM LLC boosted its holdings in shares of MeiraGTx by 1,737.7% in the first quarter. CWM LLC now owns 8,674 shares of the company's stock worth $59,000 after buying an additional 8,202 shares during the period. Finally, Ieq Capital LLC acquired a new position in shares of MeiraGTx in the first quarter worth about $83,000. Institutional investors own 67.48% of the company's stock.

MeiraGTx Price Performance

Shares of NASDAQ:MGTX traded up $0.52 during trading hours on Friday, hitting $6.00. 436,494 shares of the company's stock traded hands, compared to its average volume of 372,445. MeiraGTx has a 52 week low of $3.85 and a 52 week high of $8.75. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34. The company's fifty day simple moving average is $5.67 and its two-hundred day simple moving average is $6.24. The company has a market cap of $482.19 million, a price-to-earnings ratio of -4.96, a price-to-earnings-growth ratio of 0.37 and a beta of 1.16.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.13). MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. The business had revenue of $1.93 million for the quarter, compared to the consensus estimate of $4.44 million. As a group, equities analysts anticipate that MeiraGTx will post -1.48 EPS for the current fiscal year.

About MeiraGTx

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia.