Recent insider trends for TG Therapeutics, Inc. (NASDAQ:TGTX) have caught the attention of investors. Patters in insider activity can help analysts formulate an outlook for a stock. In the case of TGTX, the data has a lot to say about how the stock might perform going forward.
Institutions own 48.10% of TG Therapeutics, Inc. (TGTX)’s shares. The total value of these holdings, in millions, is $280. Among active positions in the latest quarter, 49 holders increased their positions by a total of 4.12 million shares, 39 holders decreased the positions by a total of 1.49 million shares, and 26 holders held their positions. This works out to a net increase in ownership of 2.64 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 10 holders initiated new positions by a total of 141272 shares and 11 holders exited their positions by a total of 440864 shares. This nets out to a decrease of 299592 shares and is another bearish sign for TGTX.
Insider ownership increased by a total of 0 shares, which suggests that TGTX’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 11 buys and 7 sells, and ownership increased by a net of 1.28 million shares.
The analysis of insider buying and selling trends can be extended to the aggregate level. Short interest, which represents the number of a stock’s shares currently being shorted, captures what the market as a whole feels about a stock. TG Therapeutics, Inc. (NASDAQ:TGTX)’s short interest is 17.56 million shares, or 52.31% of the float. This represents an increase of 16% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
Ownership trends and trading patterns can be useful tools for predicting a stock’s performance, but it’s also important to consider the technicals in order to form a more comprehensive view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that TGTX is a Weak sell, which implies that TGTX is expected to underperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that TG Therapeutics, Inc. (NASDAQ:TGTX) is overvalued.