Short Interest in TG Therapeutics Inc (TGTX) Drops By 9.7%

TG Therapeutics Inc (NASDAQ:TGTX) saw a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 15,260,495 shares, a decrease of 9.7% from the April 15th total of 16,903,739 shares. Based on an average daily trading volume, of 1,600,456 shares, the days-to-cover ratio is presently 9.5 days. Currently, 19.7% of the company’s shares are sold short.

A number of large investors have recently modified their holdings of the business. Opaleye Management Inc. increased its position in TG Therapeutics by 148.4% during the 1st quarter. Opaleye Management Inc. now owns 1,366,062 shares of the biopharmaceutical company’s stock worth $10,983,000 after purchasing an additional 816,062 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in TG Therapeutics by 46.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,927 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 2,200 shares in the last quarter. Man Group plc purchased a new stake in TG Therapeutics during the 1st quarter worth about $1,525,000. Goldman Sachs Group Inc. increased its position in TG Therapeutics by 23.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 940,656 shares of the biopharmaceutical company’s stock worth $7,562,000 after purchasing an additional 178,071 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in TG Therapeutics by 22.9% during the 1st quarter. Geode Capital Management LLC now owns 928,149 shares of the biopharmaceutical company’s stock worth $7,462,000 after purchasing an additional 172,944 shares in the last quarter. Institutional investors own 56.39% of the company’s stock.

A number of analysts have issued reports on TGTX shares. Zacks Investment Research lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, April 6th. Cantor Fitzgerald reiterated a “buy” rating and set a $17.00 price target on shares of TG Therapeutics in a research note on Monday, May 13th. BidaskClub lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. ValuEngine upgraded shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of TG Therapeutics in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $14.07.

Shares of NASDAQ:TGTX opened at $7.12 on Friday. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.89. TG Therapeutics has a 1 year low of $3.32 and a 1 year high of $16.00.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.01. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.04 million. TG Therapeutics had a negative net margin of 99,471.43% and a negative return on equity of 309.17%. Equities research analysts forecast that TG Therapeutics will post -1.61 earnings per share for the current year.

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TG Therapeutics Company Profile

TG Therapeutics, Inc, a biopharmaceutical company, engages in developing and delivering medicines for patients with chronic lymphocytic leukemia (CLL), non-Hodgkin's Lymphoma (NHL), and Multiple Sclerosis (MS). It develops a robust B-cell directed research and development platform for identification of key B-cell pathways of interest and rapid clinical testing.

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