TG Therapeutics Inc (NASDAQ: TGTX) stock jumped 7.19% on Friday to $12.07 against a previous-day closing price of $11.26. With 5.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.28 million shares. The 52-week range on TGTX shows that it touched its highest point at $35.67 and its lowest point at $6.46 during that stretch. It currently has a 1-year price target of $27.81. Beta for the stock currently stands at 2.19.
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 up-trending over the past week, with a rise of 18.10%, but this was up by 80.69% over a month. Three-month performance surged to 16.39% while six-month performance fell -59.70%. The stock gained 42.67% in the past year, while it has gained 2.03% so far this year. A look at the trailing 12-month EPS for TGTX yields -0.27 with Next year EPS estimates of -0.02. For the next quarter, that number is -0.10. This implies an EPS growth rate of 96.42% for this year and 59.57% for next year.
Float and Shares Shorts:
At present, 146.39 million TGTX shares are outstanding with a float of 137.37 million shares on hand for trading. On Oct 30, 2023, short shares totaled 37.02 million, which was 24.44% higher than short shares on Sep 28, 2023. In addition to Mr. Michael S. Weiss Esq. as the firm’s Chairman, CEO & President, Mr. Sean A. Power CPA serves as its CFO, Corporate Secretary & Treasurer.
Institutional Ownership:
Through their ownership of 64.76% of TGTX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 33.33% of TGTX, in contrast to 27.57% held by mutual funds. Shares owned by individuals account for 17.68%. As the largest shareholder in TGTX with 8.65% of the stake, The Vanguard Group, Inc. holds 13,064,541 shares worth 13,064,541. A second-largest stockholder of TGTX, SSgA Funds Management, Inc., holds 9,817,622 shares, controlling over 6.50% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in TGTX, holding 8,491,394 shares or 5.62% stake. With a 4.93% stake in TGTX, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 7,449,832 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.81% of TGTX stock, is the second-largest Mutual Fund holder. It holds 4,246,365 shares valued at 32.82 million. Vanguard Small Cap Index Fund holds 2.33% of the stake in TGTX, owning 3,512,861 shares worth 27.15 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TGTX since 0 analysts follow the stock currently. 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 $41.00 and a low target of $6.00, the average target price over the next 12 months is $27.81. Based on these targets, TGTX could surge 239.69% to reach the target high and fall by -50.29% to reach the target low. Reaching the average price target will result in a growth of 130.41% from current levels.
Summary of Insider Activity:
Insiders traded TGTX stock several times over the past three months with 4 Buys and 1 Sells. In these transactions, 80,000 shares were bought while 20,000 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 1,259,000 while 158,501 shares were sold.
