TG Therapeutics, Inc. (TGTX) Short Interest Update
TG Therapeutics, Inc. (NASDAQ:TGTX) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 17,251,576 shares, a decline of 6.3% from the August 15th total of 18,413,843 shares. Approximately 31.7% of the shares of the company are sold short. Based on an average trading volume of 1,001,627 shares, the short-interest ratio is presently 17.2 days.
In related news, CFO Sean A. Power sold 59,976 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $11.09, for a total value of $665,133.84. Following the completion of the sale, the chief financial officer now directly owns 477,464 shares of the company’s stock, valued at $5,295,075.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 16.70% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of TG Therapeutics by 152.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 43,020 shares of the biopharmaceutical company’s stock worth $501,000 after buying an additional 26,001 shares during the last quarter. Bank of Montreal Can bought a new stake in TG Therapeutics in the 1st quarter valued at about $443,000. Dupont Capital Management Corp bought a new stake in TG Therapeutics in the 2nd quarter valued at about $258,000. Two Sigma Securities LLC bought a new stake in TG Therapeutics in the 1st quarter valued at about $325,000. Finally, Ameriprise Financial Inc. bought a new stake in TG Therapeutics in the 1st quarter valued at about $1,291,000. Institutional investors own 49.91% of the company’s stock.
A number of research analysts have commented on TGTX shares. FBR & Co restated a “buy” rating on shares of TG Therapeutics in a research note on Thursday, May 18th. BidaskClub lowered shares of TG Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. ValuEngine upgraded shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of TG Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, July 13th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $23.00 price objective on shares of TG Therapeutics in a research note on Monday, June 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $25.40.
TG Therapeutics (NASDAQ:TGTX) opened at 11.88 on Friday. TG Therapeutics has a 1-year low of $4.10 and a 1-year high of $15.35. The firm has a 50-day moving average of $11.48 and a 200-day moving average of $11.14. The firm’s market capitalization is $739.93 million.
TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.01. TG Therapeutics had a negative net margin of 68,806.59% and a negative return on equity of 154.02%. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.04 million. On average, analysts expect that TG Therapeutics will post ($1.84) earnings per share for the current year.
About TG Therapeutics
TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for B-cell malignancies and autoimmune diseases. As of December 31, 2016, the Company was developing two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the cluster of differentiation (CD20) antigen found on mature B-lymphocytes.
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