TG Therapeutics, Inc. (NASDAQ:TGTX) has reported a series of stock transactions by director Sagar Lonial, according to the company's latest SEC filings. Lonial sold a total of 25,933 shares of the company's common stock across two separate transactions, with the total value of the sales amounting to approximately $432,888.
The first sale took place on June 17, 2024, when Lonial sold 9,585 shares at a price of $16.39 per share. Following this transaction, he then disposed of an additional 16,348 shares on June 20, 2024, at a slightly higher price of $16.87 per share. These sales were conducted by the company's restricted stock administrator to satisfy Lonial's income tax obligations, as noted in the footnotes of the filing.
In addition to these sales, Lonial also acquired 22,250 shares on June 19, 2024, as part of a restricted stock grant that will vest on June 14, 2025. The grant, which is included in the total number of shares owned following the transactions, was valued at $0 as per the SEC filing.
After these transactions, Lonial's holdings in TG Therapeutics include a combination of both unrestricted and restricted common stock, totaling 105,195 shares. The restricted shares are subject to various vesting periods, suggesting a continued long-term investment in the company by Lonial.
Investors often monitor insider transactions as they can provide insights into the executives' perspectives on the company's future. The sale of a significant number of shares by a director might draw attention, but it is also not uncommon for executives to sell shares for personal financial planning, including tax obligations.
TG Therapeutics, headquartered in New York, is a biopharmaceutical company focused on the development and commercialization of treatments for B-cell malignancies and autoimmune diseases. As with any insider trading activity, investors may consider the context of the transactions and the company's overall performance when assessing their investment decisions.
In other recent news, TG Therapeutics has reported key corporate changes and strong financial growth. The pharmaceutical company's stockholders approved an increase in authorized common stock from 175 million to 190 million and an amendment to its 2022 Incentive Plan, enhancing the company's compensation strategy for executives. These are recent developments following the annual stockholders meeting.
In terms of financial performance, TG Therapeutics reported a robust first quarter in 2024, primarily driven by its anti-CD20 therapy, Briumvi. The company announced that Briumvi's US revenue surpassed $50 million, contributing to total revenues of over $63 million. TG Therapeutics raised its revenue guidance for the full year to between $270 million and $290 million and expects to achieve profitability in the upcoming quarters.
Additionally, the company is expanding Briumvi's market reach and developing new formulations. TG Therapeutics also formed a partnership to acquire a license for a CD19 CAR T cell therapy. As per the company, these strategic moves are aimed at solidifying Briumvi as the preferred therapy in its class.
InvestingPro Insights
Amidst the recent insider transactions at TG Therapeutics, Inc. (NASDAQ:TGTX), investors may find additional context through the lens of InvestingPro data and insights. The company, known for its focus on developing treatments for B-cell malignancies and autoimmune diseases, has been trading at a high earnings multiple, with a P/E ratio of 59.51. This metric reflects investor expectations of future earnings growth, which is supported by the fact that five analysts have revised their earnings upwards for the upcoming period, indicating potential optimism about the company's prospects.
Moreover, TG Therapeutics has demonstrated an impressive gross profit margin of 93.53% over the last twelve months as of Q1 2024. This high margin suggests the company has been effective in controlling the costs associated with its revenue. Additionally, with a PEG ratio of 0.47 during the same period, the company's price-to-earnings growth appears attractive, potentially indicating that its stock is undervalued relative to its earnings growth prospects.
While director Sagar Lonial's recent stock sales have caught the attention of some investors, it's worth noting that TG Therapeutics' liquid assets exceed its short-term obligations, providing the company with financial flexibility. Furthermore, the InvestingPro platform lists several additional tips for TG Therapeutics, including insights on net income expectations and stock price volatility. For a more comprehensive analysis, interested investors can explore these additional 14 InvestingPro Tips available at https://www.investing.com/pro/TGTX.
For those looking to delve deeper into TG Therapeutics' financials and projections, InvestingPro offers an array of advanced metrics and professional insights. As an exclusive offer, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking the full potential of investment research tools.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.