Mirae Asset Global Investments Co. Ltd. Lowers Stake in TG Therapeutics, Inc. (NASDAQ:TGTX)

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,181 shares of the biopharmaceutical company’s stock after selling 4,399 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in TG Therapeutics were worth $1,387,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TGTX. Assenagon Asset Management S.A. purchased a new position in TG Therapeutics in the 3rd quarter valued at about $1,219,000. Hussman Strategic Advisors Inc. purchased a new position in TG Therapeutics in the 3rd quarter valued at about $439,000. Rhenman & Partners Asset Management AB lifted its stake in TG Therapeutics by 190.9% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 160,000 shares of the biopharmaceutical company’s stock valued at $1,338,000 after buying an additional 105,000 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in TG Therapeutics by 183.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 856,837 shares of the biopharmaceutical company’s stock valued at $7,163,000 after buying an additional 554,309 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in TG Therapeutics in the 3rd quarter valued at about $511,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TG Therapeutics

In other news, Director Laurence N. Charney sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $15.97, for a total transaction of $351,340.00. Following the completion of the sale, the director now owns 215,229 shares in the company, valued at approximately $3,437,207.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.20% of the company’s stock.

TG Therapeutics Stock Down 1.5 %

Shares of NASDAQ TGTX opened at $13.78 on Monday. The company has a 50 day simple moving average of $15.11 and a 200-day simple moving average of $14.00. The company has a market capitalization of $2.13 billion, a P/E ratio of 689.34 and a beta of 2.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 5.92 and a quick ratio of 5.18. TG Therapeutics, Inc. has a 1 year low of $6.46 and a 1 year high of $35.67.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. The business had revenue of $43.97 million during the quarter, compared to the consensus estimate of $40.06 million. TG Therapeutics had a net margin of 5.42% and a return on equity of 12.89%. During the same quarter last year, the firm earned ($0.39) EPS. On average, equities research analysts predict that TG Therapeutics, Inc. will post -0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $45.00 target price on shares of TG Therapeutics in a research note on Thursday. StockNews.com lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $39.00 target price on shares of TG Therapeutics in a research note on Thursday. The Goldman Sachs Group raised their target price on shares of TG Therapeutics from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Finally, B. Riley raised their target price on shares of TG Therapeutics from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, TG Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $29.00.

TG Therapeutics Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.