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

TG Therapeutics, Inc. (NASDAQ:TGTX)’s stock price traded down 2.9% on Monday . The stock traded as low as $29.01 and last traded at $29.19. 195,725 shares traded hands 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.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com cut shares of TG Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, December 22nd. JPMorgan Chase & Co. lifted their price objective on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, November 25th. HC Wainwright raised their price target on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. TD Cowen assumed coverage on TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, TG Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

TG Therapeutics Trading Down 4.8 %

The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $4.45 billion, a PE ratio of -286.07 and a beta of 2.24. The firm’s 50 day simple moving average is $31.18 and its 200-day simple moving average is $25.08.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share 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 company had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $81.68 million. During the same quarter in the prior year, the company earned $0.73 EPS. The firm’s revenue was down 49.4% compared to the same quarter last year. As a group, equities research analysts anticipate that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

Insider Transactions at TG Therapeutics

In related news, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the transaction, the director now directly owns 100,195 shares in the company, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in TG Therapeutics by 13.4% in the second 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 last quarter. Principal Financial Group Inc. boosted its position in TG Therapeutics by 32.3% during the 2nd quarter. Principal Financial Group Inc. now owns 46,817 shares of the biopharmaceutical company’s stock valued at $833,000 after purchasing an additional 11,443 shares during the period. Commonwealth Equity Services LLC grew its stake in TG Therapeutics by 1.3% during the 2nd 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 during the last quarter. Rhumbline Advisers increased its position in TG Therapeutics by 7.8% in the second quarter. Rhumbline Advisers now owns 215,055 shares of the biopharmaceutical company’s stock worth $3,826,000 after buying an additional 15,582 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of TG Therapeutics by 24.6% during the second quarter. Victory Capital Management Inc. now owns 26,212 shares of the biopharmaceutical company’s stock valued at $466,000 after acquiring an additional 5,169 shares during the period. 58.58% of the stock is currently owned by institutional investors.

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.