Exchange Traded Concepts LLC Acquires New Shares in TG Therapeutics, Inc. $TGTX

Exchange Traded Concepts LLC bought a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,063 shares of the biopharmaceutical company’s stock, valued at approximately $905,000.

Several other institutional investors also recently modified their holdings of the stock. Woodline Partners LP bought a new stake in shares of TG Therapeutics in the 1st quarter valued at about $21,021,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in TG Therapeutics by 1,221.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 422,078 shares of the biopharmaceutical company’s stock valued at $15,191,000 after purchasing an additional 390,137 shares during the period. Goldman Sachs Group Inc. increased its stake in TG Therapeutics by 21.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock valued at $75,683,000 after purchasing an additional 345,059 shares in the last quarter. Marex Group plc bought a new stake in TG Therapeutics in the second quarter valued at approximately $10,017,000. Finally, Jump Financial LLC raised its holdings in TG Therapeutics by 551.8% in the second quarter. Jump Financial LLC now owns 320,022 shares of the biopharmaceutical company’s stock worth $11,518,000 after purchasing an additional 270,922 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TG Therapeutics news, Director Yann Echelard sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $32.57, for a total transaction of $162,850.00. Following the completion of the transaction, the director owned 223,816 shares of the company’s stock, valued at $7,289,687.12. This represents a 2.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TGTX shares. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a report on Monday, December 22nd. JPMorgan Chase & Co. boosted their target price on TG Therapeutics from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. HC Wainwright started coverage on TG Therapeutics in a report on Monday, October 6th. They issued a “buy” rating and a $60.00 price target for the company. Wall Street Zen upgraded TG Therapeutics from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Finally, B. Riley upgraded TG Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TG Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $50.25.

TG Therapeutics Price Performance

TGTX stock opened at $30.77 on Monday. The stock has a 50-day moving average price of $32.08 and a two-hundred day moving average price of $33.18. TG Therapeutics, Inc. has a 1 year low of $25.28 and a 1 year high of $46.48. The stock has a market cap of $4.89 billion, a PE ratio of 11.07 and a beta of 2.01. The company has a current ratio of 3.82, a quick ratio of 2.89 and a debt-to-equity ratio of 0.40.

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

TG Therapeutics Company Profile

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.