Assenagon Asset Management S.A. Cuts Stake in TG Therapeutics, Inc. (NASDAQ:TGTX)

Assenagon Asset Management S.A. lessened its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 94.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,172 shares of the biopharmaceutical company’s stock after selling 96,908 shares during the period. Assenagon Asset Management S.A.’s holdings in TG Therapeutics were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new position in TG Therapeutics in the 4th quarter valued at $4,219,000. New York State Teachers Retirement System grew its holdings in shares of TG Therapeutics by 1.9% during the 4th quarter. New York State Teachers Retirement System now owns 43,764 shares of the biopharmaceutical company’s stock worth $1,317,000 after purchasing an additional 837 shares during the period. Blue Trust Inc. boosted its holdings in TG Therapeutics by 24.5% during the 4th quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 371 shares during the period. Principal Financial Group Inc. boosted its holdings in TG Therapeutics by 7.5% during the 4th quarter. Principal Financial Group Inc. now owns 830,184 shares of the biopharmaceutical company’s stock valued at $24,989,000 after acquiring an additional 57,996 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in TG Therapeutics during the 4th quarter valued at about $271,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Stock Up 0.5%

TGTX opened at $35.17 on Friday. The business’s fifty day moving average is $37.20 and its two-hundred day moving average is $34.81. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.04 and a current ratio of 4.02. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 146.54 and a beta of 1.94. TG Therapeutics, Inc. has a one year low of $16.65 and a one year high of $46.48.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.16). The company had revenue of $120.86 million during the quarter, compared to analyst estimates of $117.07 million. TG Therapeutics had a return on equity of 18.88% and a net margin of 10.13%. The business’s revenue was up 90.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) earnings per share. Analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at TG Therapeutics

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $36.94, for a total transaction of $369,400.00. Following the completion of the sale, the director now owns 228,816 shares of the company’s stock, valued at approximately $8,452,463.04. The trade was a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TGTX shares. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of TG Therapeutics in a research report on Tuesday, March 4th. Wall Street Zen upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.80.

About TG Therapeutics

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.