MeiraGTx Holdings plc (NASDAQ:MGTX) Short Interest Up 16.9% in May

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

MeiraGTx Stock Performance

NASDAQ:MGTX traded up $0.52 during trading hours on Friday, reaching $6.00. The stock had a trading volume of 436,494 shares, compared to its average volume of 371,277. The stock has a market cap of $482.19 million, a P/E ratio of -4.96, a price-to-earnings-growth ratio of 0.37 and a beta of 1.30. MeiraGTx has a 12-month low of $3.85 and a 12-month 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 stock has a 50 day simple moving average of $5.67 and a 200 day simple moving average of $6.23.

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 return on equity of 146.38% and a negative net margin of 633.05%. The company had revenue of $1.93 million during the quarter, compared to the consensus estimate of $4.44 million. On average, research analysts forecast that MeiraGTx will post -1.48 EPS for the current fiscal year.

Insider Activity

In related news, CFO Richard Giroux sold 24,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $6.00, for a total transaction 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 trade represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $5.34, for a total value of $253,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,408,983 shares of the company's stock, valued at $7,523,969.22. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.50% of the company's stock.

Institutional Trading of MeiraGTx

Several large investors have recently modified their holdings of MGTX. GAMMA Investing LLC grew its holdings 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 worth $30,000 after acquiring an additional 4,328 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of MeiraGTx by 106.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock valued at $30,000 after buying an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC grew its stake 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 acquiring an additional 2,016 shares during the period. CWM LLC raised its stake in MeiraGTx by 1,737.7% during the 1st quarter. CWM LLC now owns 8,674 shares of the company's stock valued at $59,000 after buying an additional 8,202 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in MeiraGTx in the first quarter valued at about $83,000. 67.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on MGTX shares. Chardan Capital reduced their price target on MeiraGTx from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Wall Street Zen cut shares of MeiraGTx from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Royal Bank of Canada upped their price target on shares of MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a report on Monday, March 17th.

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.