TG Therapeutics Inc. (NASDAQ: TGTX) stock jumped 2.84% on Monday to $12.69 against a previous-day closing price of $12.34. With 3.1 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.11 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $12.69 whereas the lowest price it dropped to was $12.06. The 52-week range on TGTX shows that it touched its highest point at $15.26 and its lowest point at $3.48 during that stretch. It currently has a 1-year price target of $20.56. Beta for the stock currently stands at 1.96.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TGTX was down-trending over the past week, with a drop of -6.90%, but this was up by 47.90% over a month. Three-month performance surged to 153.29% while six-month performance rose 103.37%. The stock lost -9.36% in the past year, while it has gained 7.27% so far this year. A look at the trailing 12-month EPS for TGTX yields -1.78 with Next year EPS estimates of -1.01. For the next quarter, that number is -0.27. This implies an EPS growth rate of -8.70% for this year and 25.20% for next year.
Float and Shares Shorts:
At present, 135.33 million TGTX shares are outstanding with a float of 133.34 million shares on hand for trading. On Oct 13, 2022, short shares totaled 19.44 million, which was 13.38% higher than short shares on Sep 14, 2022. In addition to Mr. Michael S. Weiss Esq. as the firm’s Chairman, CEO & Pres, Mr. Sean A. Power CPA, CPA serves as its CFO, Corp. Sec. & Treasurer.
Through their ownership of 75.50% of TGTX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 36.44% of TGTX, in contrast to 32.40% held by mutual funds. Shares owned by individuals account for 15.88%. As the largest shareholder in TGTX with 9.90% of the stake, The Vanguard Group, Inc. holds 14,391,834 shares worth 14,391,834. A second-largest stockholder of TGTX, SSgA Funds Management, Inc., holds 11,750,400 shares, controlling over 8.09% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in TGTX, holding 7,799,327 shares or 5.37% stake. With a 5.08% stake in TGTX, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 7,376,979 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.73% of TGTX stock, is the second-largest Mutual Fund holder. It holds 3,965,159 shares valued at 46.91 million. Vanguard Small Cap Index Fund holds 2.32% of the stake in TGTX, owning 3,370,355 shares worth 39.87 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TGTX since 9 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TGTX analysts setting a high price target of $40.00 and a low target of $6.00, the average target price over the next 12 months is $20.56. Based on these targets, TGTX could surge 215.21% to reach the target high and fall by -52.72% to reach the target low. Reaching the average price target will result in a growth of 62.02% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TGTX will report FY 2022 earnings on 02/27/2024. Analysts have provided yearly estimates in a range of -$1.19 being high and -$1.43 being low. For TGTX, this leads to a yearly average estimate of -$1.33. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. TG Therapeutics Inc. surprised analysts by $0.10 when it reported -$0.26 EPS against a consensus estimate of -$0.35. The surprise factor in the prior quarter was $0.18. Based on analyst estimates, the high estimate for the next quarter is -$0.13 and the low estimate is -$0.36. The average estimate for the next quarter is thus -$0.28.
Summary of Insider Activity:
Insiders traded TGTX stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 9,000 shares were bought while 30,000 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 302,660 while 30,000 shares were sold.