1832 Asset Management L.P. Has $5.18 Million Stock Holdings in TG Therapeutics, Inc. $TGTX

1832 Asset Management L.P. reduced its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 90.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,000 shares of the biopharmaceutical company’s stock after selling 1,339,800 shares during the period. 1832 Asset Management L.P. owned 0.09% of TG Therapeutics worth $5,183,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGTX. Strs Ohio acquired a new position in TG Therapeutics in the first quarter valued at $785,000. KLP Kapitalforvaltning AS grew its holdings in TG Therapeutics by 7.7% during the second quarter. KLP Kapitalforvaltning AS now owns 30,800 shares of the biopharmaceutical company’s stock worth $1,108,000 after acquiring an additional 2,200 shares during the period. Yorktown Management & Research Co Inc purchased a new position in shares of TG Therapeutics in the 2nd quarter valued at about $383,000. Prudential Financial Inc. grew its holdings in shares of TG Therapeutics by 5.5% in the 2nd quarter. Prudential Financial Inc. now owns 189,315 shares of the biopharmaceutical company’s stock worth $6,813,000 after acquiring an additional 9,925 shares during the period. Finally, United Services Automobile Association purchased a new position in shares of TG Therapeutics in the first quarter valued at $340,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Sagar Lonial sold 20,852 shares of TG Therapeutics stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.24, for a total value of $672,268.48. Following the transaction, the director owned 94,061 shares in the company, valued at approximately $3,032,526.64. This trade represents a 18.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yann Echelard sold 5,000 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $32.57, for a total value of $162,850.00. Following the completion of the transaction, the director directly owned 223,816 shares of the company’s stock, valued at approximately $7,289,687.12. The trade was a 2.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.64% of the stock is currently owned by corporate insiders.

TG Therapeutics Stock Performance

Shares of NASDAQ:TGTX opened at $30.76 on Friday. TG Therapeutics, Inc. has a fifty-two week low of $25.28 and a fifty-two week high of $46.48. The business’s fifty day moving average price is $33.47 and its two-hundred day moving average price is $33.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.82 and a quick ratio of 2.89. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 11.06 and a beta of 2.01.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $2.19. TG Therapeutics had a net margin of 84.13% and a return on equity of 133.24%. The firm had revenue of $161.71 million for the quarter, compared to analysts’ expectations of $152.12 million. During the same period last year, the firm earned $0.02 earnings per share. The business’s revenue for the quarter was up 92.7% on a year-over-year basis. As a group, analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TGTX. HC Wainwright initiated coverage on TG Therapeutics in a research note on Monday, October 6th. They issued a “buy” rating and a $60.00 price target on the stock. B. Riley upgraded shares of TG Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 4th. Wall Street Zen lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of TG Therapeutics from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.25.

TG Therapeutics Company 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.