TG Therapeutics Inc (NASDAQ:TGTX) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 8,640,766 shares, an increase of 41.8% from the February 28th total of 6,092,955 shares. Approximately 21.1% of the shares of the stock are sold short. Based on an average trading volume of 7,599,717 shares, the days-to-cover ratio is currently 1.1 days.
In related news, Director Laurence N. Charney sold 7,000 shares of TG Therapeutics stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $11.17, for a total value of $78,190.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William James Kennedy sold 8,548 shares of TG Therapeutics stock in a transaction dated Tuesday, April 11th. The stock was sold at an average price of $10.27, for a total value of $87,787.96. The disclosure for this sale can be found here. Company insiders own 19.00% of the company’s stock.
Several hedge funds have recently modified their holdings of TGTX. Baker BROS. Advisors LP acquired a new stake in shares of TG Therapeutics during the third quarter worth $15,511,000. Columbus Circle Investors boosted its stake in shares of TG Therapeutics by 29.3% in the first quarter. Columbus Circle Investors now owns 1,004,421 shares of the biopharmaceutical company’s stock worth $11,702,000 after buying an additional 227,722 shares during the period. Guggenheim Capital LLC boosted its stake in shares of TG Therapeutics by 67.6% in the fourth quarter. Guggenheim Capital LLC now owns 267,985 shares of the biopharmaceutical company’s stock worth $1,246,000 after buying an additional 108,106 shares during the period. RA Capital Management LLC boosted its stake in shares of TG Therapeutics by 2.2% in the third quarter. RA Capital Management LLC now owns 4,631,114 shares of the biopharmaceutical company’s stock worth $35,845,000 after buying an additional 99,400 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in shares of TG Therapeutics by 40.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 315,000 shares of the biopharmaceutical company’s stock worth $3,670,000 after buying an additional 90,000 shares during the period. 50.08% of the stock is currently owned by institutional investors.
Shares of TG Therapeutics (NASDAQ:TGTX) traded down 1.44% during trading on Friday, hitting $10.30. The stock had a trading volume of 1,121,134 shares. The stock’s market cap is $584.82 million. TG Therapeutics has a one year low of $4.10 and a one year high of $15.05. The stock’s 50 day moving average price is $11.11 and its 200-day moving average price is $6.90.
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About TG Therapeutics
TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for B-cell malignancies and autoimmune diseases. As of December 31, 2016, the Company was developing two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the cluster of differentiation (CD20) antigen found on mature B-lymphocytes.
