TG Therapeutics (NASDAQ:TGTX) Sees Unusually-High Trading Volume After Insider Buying Activity

Posted by Defense World Staff on Aug 15th, 2023

TG Therapeutics, Inc. (NASDAQ:TGTX – Get Free Report) saw an uptick in trading volume on Monday following insider buying activity. 5,806,470 shares changed hands during mid-day trading, an increase of 24% from the previous session’s volume of 4,685,889 shares.The stock last traded at $10.86 and had previously closed at $10.13.

Specifically, CFO Sean A. Power sold 73,647 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $26.70, for a total value of $1,966,374.90. Following the completion of the transaction, the chief financial officer now directly owns 654,836 shares in the company, valued at approximately $17,484,121.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Sagar Lonial sold 34,854 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $23.37, for a total value of $814,537.98. Following the transaction, the director now owns 93,878 shares in the company, valued at approximately $2,193,928.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean A. Power sold 73,647 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $26.70, for a total transaction of $1,966,374.90. Following the completion of the transaction, the chief financial officer now owns 654,836 shares in the company, valued at approximately $17,484,121.20. The disclosure for this sale can be found here. Corporate insiders own 9.20% of the company’s stock.

Analysts Set New Price Targets

TGTX has been the subject of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price objective on shares of TG Therapeutics in a research report on Monday, April 17th. JPMorgan Chase & Co. lowered their price objective on TG Therapeutics from $34.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, August 7th. StockNews.com raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. HC Wainwright raised their price objective on shares of TG Therapeutics from $34.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Finally, The Goldman Sachs Group raised shares of TG Therapeutics from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $12.00 in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.14.

Get Our Latest Analysis on TGTX

TG Therapeutics Stock Up 9.6 %

The company has a debt-to-equity ratio of 2.42, a current ratio of 2.87 and a quick ratio of 2.45. The company has a market cap of $1.68 billion, a P/E ratio of -8.74 and a beta of 2.02. The stock has a fifty day moving average price of $21.00 and a two-hundred day moving average price of $21.03.

TG Therapeutics (NASDAQ:TGTX – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). TG Therapeutics had a negative return on equity of 309.58% and a negative net margin of 730.34%. The firm had revenue of $16.07 million during the quarter, compared to the consensus estimate of $17.39 million. During the same period in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was up 2606.1% on a year-over-year basis. On average, research analysts expect that TG Therapeutics, Inc. will post -0.72 EPS for the current year.

Institutional Trading of TG Therapeutics

Hedge funds have recently bought and sold shares of the business. Darwin Global Management Ltd. purchased a new stake in shares of TG Therapeutics during the 1st quarter valued at $157,187,000. State Street Corp increased its position in TG Therapeutics by 47.8% in the second quarter. State Street Corp now owns 14,235,263 shares of the biopharmaceutical company’s stock worth $60,500,000 after buying an additional 4,606,679 shares during the last quarter. Vanguard Group Inc. boosted its position in TG Therapeutics by 13.3% during the third quarter. Vanguard Group Inc. now owns 14,746,392 shares of the biopharmaceutical company’s stock worth $87,299,000 after purchasing an additional 1,725,560 shares during the period. Alkeon Capital Management LLC lifted its position in shares of TG Therapeutics by 85.3% during the fourth quarter. Alkeon Capital Management LLC now owns 3,044,417 shares of the biopharmaceutical company’s stock worth $36,015,000 after acquiring an additional 1,401,742 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of TG Therapeutics during the fourth quarter worth $13,428,000. 62.66% of the stock is currently owned by institutional investors.

TG Therapeutics Company Profile

(Get Free Report)

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell diseases. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.