TG Therapeutics Target of Unusually High Options Trading (NASDAQ:TGTX)

TG Therapeutics, Inc. (NASDAQ:TGTX) saw some unusual options trading on Wednesday. Stock traders purchased 7,870 call options on the company. This represents an increase of 119% compared to the typical daily volume of 3,597 call options.

Insider Transactions at TG Therapeutics

In related news, Director Yann Echelard sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $32.57, for a total transaction of $162,850.00. Following the sale, the director owned 223,816 shares of the company’s stock, valued at approximately $7,289,687.12. This represents a 2.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.64% of the company’s stock.

Hedge Funds Weigh In On TG Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC lifted its position in TG Therapeutics by 551.8% in the second quarter. Jump Financial LLC now owns 320,022 shares of the biopharmaceutical company’s stock valued at $11,518,000 after acquiring an additional 270,922 shares during the last quarter. Marex Group plc purchased a new position in TG Therapeutics during the second quarter worth about $10,017,000. Strs Ohio purchased a new stake in TG Therapeutics in the 1st quarter valued at about $785,000. KLP Kapitalforvaltning AS grew its position in TG Therapeutics by 7.7% during the second quarter. KLP Kapitalforvaltning AS now owns 30,800 shares of the biopharmaceutical company’s stock valued at $1,108,000 after acquiring an additional 2,200 shares during the period. Finally, Yorktown Management & Research Co Inc acquired a new stake in TG Therapeutics during the second quarter worth about $383,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TGTX. Weiss Ratings restated a “hold (c+)” rating on shares of TG Therapeutics in a research report on Monday, December 29th. B. Riley raised TG Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 4th. HC Wainwright assumed coverage on TG Therapeutics in a report on Monday, October 6th. They set a “buy” rating and a $60.00 price objective on the stock. Wall Street Zen raised shares of TG Therapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of TG Therapeutics from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.25.

TG Therapeutics Stock Up 4.7%

Shares of TGTX stock traded up $1.31 during trading hours on Wednesday, reaching $29.18. 6,040,669 shares of the company’s stock were exchanged, compared to its average volume of 2,919,892. TG Therapeutics has a fifty-two week low of $25.28 and a fifty-two week high of $46.48. The stock’s 50 day moving average is $30.94 and its 200-day moving average is $32.60. The company has a current ratio of 3.82, a quick ratio of 2.89 and a debt-to-equity ratio of 0.40. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 10.50 and a beta of 1.86.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $2.19. The firm had revenue of $161.71 million for the quarter, compared to analyst estimates of $152.12 million. TG Therapeutics had a return on equity of 133.24% and a net margin of 84.13%.TG Therapeutics’s revenue for the quarter was up 92.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Analysts predict that TG Therapeutics will post 0.08 earnings per share for the current fiscal year.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a clinical?stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small?molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.