TG Therapeutics (NASDAQ:TGTX) Shares Down 2.9% – Here’s What Happened

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price traded down 2.9% during trading on Monday . The stock traded as low as $29.01 and last traded at $29.19. 195,725 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,519,561 shares. The stock had previously closed at $30.05.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TGTX shares. StockNews.com downgraded TG Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, December 22nd. TD Cowen began coverage on TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. The Goldman Sachs Group upped their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright increased their price target on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, TG Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Stock Down 4.8 %

The business has a 50 day simple moving average of $31.18 and a 200 day simple moving average of $25.08. The stock has a market cap of $4.45 billion, a PE ratio of -286.07 and a beta of 2.24. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The business had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was down 49.4% on a year-over-year basis. On average, equities research analysts forecast that TG Therapeutics, Inc. will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.44, for a total value of $152,200.00. Following the sale, the director now owns 100,195 shares of the company’s stock, valued at $3,049,935.80. This trade represents a 4.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On TG Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in shares of TG Therapeutics by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 503,645 shares of the biopharmaceutical company’s stock worth $8,960,000 after acquiring an additional 59,523 shares during the period. Principal Financial Group Inc. lifted its position in TG Therapeutics by 32.3% in the second quarter. Principal Financial Group Inc. now owns 46,817 shares of the biopharmaceutical company’s stock worth $833,000 after purchasing an additional 11,443 shares during the period. Commonwealth Equity Services LLC boosted its stake in TG Therapeutics by 1.3% during the second quarter. Commonwealth Equity Services LLC now owns 186,994 shares of the biopharmaceutical company’s stock worth $3,327,000 after buying an additional 2,360 shares in the last quarter. Rhumbline Advisers raised its stake in shares of TG Therapeutics by 7.8% in the 2nd quarter. Rhumbline Advisers now owns 215,055 shares of the biopharmaceutical company’s stock valued at $3,826,000 after buying an additional 15,582 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of TG Therapeutics by 24.6% during the 2nd quarter. Victory Capital Management Inc. now owns 26,212 shares of the biopharmaceutical company’s stock worth $466,000 after acquiring an additional 5,169 shares during the period. Institutional investors and hedge funds own 58.58% of the company’s stock.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. 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.