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.
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.
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.