The Vanguard Group, Inc. recently announced the acquisition of new stake in TG Therapeutics Inc (NASDAQ:TGTX). The institutional investor has increased its shareholding in the Healthcare company by 0.07% to 13.06 million shares with purchase of 9159.0 shares. This fresh investment now brings its stake to 8.63% valued currently at $223.14 million. In addition, SSgA Funds Management, Inc. raised its holdings by 4.19 million to 9.82 million shares. And BlackRock Fund Advisors has lifted its position by 1.42% or 0.12 million shares – to 8.49 million shares.
Currently, there are 146.39M common shares owned by the public and among those 136.39M shares have been available to trade.
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Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 1,250,000 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 128,501 shares.
The top 3 mutual fund holders in TG Therapeutics Inc are SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 5.07 million shares of the company’s stock, all valued at over $86.54 million. The company sold 48930.0 shares recently to bring their total holdings to about 3.35% of the shares outstanding. Vanguard Total Stock Market ETF bought 3922.0 shares to see its total holdings expand to 4.26 million shares valued at over $72.7 million and representing 2.81% of the shares outstanding. iShares Russell 2000 ETF sold 9864.0 shares to bring its total holdings to over 3.73 million shares at a value of $63.67 million. iShares Russell 2000 ETF now owns shares totaling to 2.46% of the shares outstanding.
However, the script later moved the day high at 16.42, down -2.53%. The company’s stock has a 5-day price change of 4.29% and 134.22% over the past three months. TGTX shares are trading -7.44% year to date (YTD), with the 12-month market performance up to 28.12% higher. It has a 12-month low price of $6.46 and touched a high of $35.67 over the same period. TGTX has an average intraday trading volume of 6.59 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.21%, 3.78%, and -7.56% respectively.
Institutional ownership of TG Therapeutics Inc (NASDAQ: TGTX) shares accounts for 60.12% of the company’s 146.39M shares outstanding. Mutual fund holders own 26.76%, while other institutional holders and individual stakeholders account for 33.41% and 18.30% respectively.
It has a market capitalization of $2.39B and a beta (3y monthly) value of 2.41. The earnings-per-share (ttm) stands at -$0.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.33% over the week and 7.97% over the month.
Analysts forecast that TG Therapeutics Inc (TGTX) will achieve an EPS of -$0.1 for the current quarter, -$0.11 for the next quarter and -$0.11 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.17 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.39 a year ago. Earnings per share for the fiscal year are expected to increase by 99.13%, and -480.11% over the next financial year.
Looking at the support for the TGTX, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on August 02, 2023, with the firm’s price target at $16-$12.
