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

TG Therapeutics, Inc. (NASDAQ:TGTX) saw unusually large options trading on Wednesday. Stock traders bought 7,870 call options on the company. This is an increase of approximately 119% compared to the average volume of 3,597 call options.

TG Therapeutics Stock Up 4.7%

Shares of NASDAQ TGTX traded up $1.31 during trading on Wednesday, hitting $29.18. The stock had a trading volume of 6,040,669 shares, compared to its average volume of 2,919,892. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.82 and a quick ratio of 2.89. The firm has a fifty day moving average of $30.94 and a two-hundred day moving average of $32.60. TG Therapeutics has a 12 month low of $25.28 and a 12 month high of $46.48. The company has a market capitalization of $4.63 billion, a PE ratio of 10.50 and a beta of 1.86.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Yann Echelard sold 5,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $32.57, for a total transaction of $162,850.00. Following the completion of the sale, the director directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TGTX. Signature Wealth Management Partners LLC raised its stake in TG Therapeutics by 3.7% in the 3rd quarter. Signature Wealth Management Partners LLC now owns 11,180 shares of the biopharmaceutical company’s stock valued at $404,000 after acquiring an additional 400 shares during the period. Teacher Retirement System of Texas raised its position in shares of TG Therapeutics by 1.0% in the second quarter. Teacher Retirement System of Texas now owns 40,212 shares of the biopharmaceutical company’s stock valued at $1,447,000 after purchasing an additional 417 shares during the period. Amalgamated Bank raised its position in shares of TG Therapeutics by 1.1% in the third quarter. Amalgamated Bank now owns 39,248 shares of the biopharmaceutical company’s stock valued at $1,418,000 after purchasing an additional 424 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TG Therapeutics by 1.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock valued at $1,135,000 after buying an additional 441 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in TG Therapeutics by 21.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,693 shares of the biopharmaceutical company’s stock valued at $99,000 after buying an additional 467 shares in the last quarter. Institutional investors own 58.58% of the company’s stock.

About TG Therapeutics

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.