TG Therapeutics posted strong third-quarter results
TG Therapeutics Inc (NASDAQ:TGTX) stock is soaring today, after the biopharmaceutical name's third-quarter results smashed analyst expectations. The company posted profits of 73 cents per share on revenue of $165.8 million, much higher than estimated losses of 12 cents per share on $46.5 million.
At last glance, TGTX was up 34.5% at $10.40, and earlier hit $11.44. The stock is still rebounding from a rough September, though if today's gains hold, those losses will be mostly erased. The security's 80-day moving average is capping these gains, however. Since the start of the year, TG Therapeutics stock is down 13.4%.
Over in the options pits, 9,910 calls and 2,160 puts have been exchanged so far, which is already seven times the average daily options volume. The November 10 call is the most active contract, followed by the 9 call in the same series.
Short interest is on the rise, up 26.1% in the last month, and now represents a whopping 27% of the stock's available float. It would take shorts over seven days to cover their bets, at TGTX's average pace of trading.