683 Capital Management LLC Sells 402,000 Shares of TG Therapeutics, Inc. $TGTX

Key Points

• 683 Capital Management LLC has reduced its holdings in TG Therapeutics, Inc. by 57.7%, now owning 295,000 shares, which represents about 0.8% of its investment portfolio.
• TG Therapeutics reported a quarterly revenue of $141.15 million but missed analysts' expectations of $147.76 million.
• Analysts have a consensus rating of "Moderate Buy" for TG Therapeutics, with a target price of $46.25 per share.

683 Capital Management LLC cut its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 57.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 295,000 shares of the biopharmaceutical company's stock after selling 402,000 shares during the period. TG Therapeutics comprises about 0.8% of 683 Capital Management LLC's investment portfolio, making the stock its 24th largest position. 683 Capital Management LLC owned about 0.19% of TG Therapeutics worth $11,632,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Soleus Capital Management L.P. increased its position in shares of TG Therapeutics by 5.8% during the fourth quarter. Soleus Capital Management L.P. now owns 2,681,242 shares of the biopharmaceutical company's stock valued at $80,705,000 after purchasing an additional 146,702 shares during the period. Northern Trust Corp increased its position in shares of TG Therapeutics by 8.6% during the fourth quarter. Northern Trust Corp now owns 1,532,929 shares of the biopharmaceutical company's stock valued at $46,141,000 after purchasing an additional 120,785 shares during the period. Wellington Management Group LLP increased its position in shares of TG Therapeutics by 1,809.9% during the first quarter. Wellington Management Group LLP now owns 1,213,039 shares of the biopharmaceutical company's stock valued at $47,830,000 after purchasing an additional 1,149,526 shares during the period. Invesco Ltd. increased its position in shares of TG Therapeutics by 30.2% during the first quarter. Invesco Ltd. now owns 1,210,842 shares of the biopharmaceutical company's stock valued at $47,744,000 after purchasing an additional 281,099 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of TG Therapeutics by 1.3% during the first quarter. Principal Financial Group Inc. now owns 841,011 shares of the biopharmaceutical company's stock valued at $33,161,000 after purchasing an additional 10,827 shares during the period. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Trading Up 1.0%

Shares of TGTX traded up $0.32 during trading hours on Friday, hitting $32.21. 2,234,151 shares of the stock traded hands, compared to its average volume of 2,260,618. The company has a current ratio of 3.86, a quick ratio of 2.96 and a debt-to-equity ratio of 0.89. TG Therapeutics, Inc. has a 1-year low of $21.11 and a 1-year high of $46.48. The firm has a market capitalization of $5.11 billion, a PE ratio of 87.05 and a beta of 1.88. The business has a fifty day moving average of $32.81 and a 200-day moving average of $35.56.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.15). TG Therapeutics had a net margin of 13.31% and a return on equity of 26.05%. The firm had revenue of $141.15 million for the quarter, compared to analyst estimates of $147.76 million. During the same period last year, the company earned $0.04 EPS. The company's revenue was up 92.1% compared to the same quarter last year. TG Therapeutics has set its FY 2025 guidance at EPS. Analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Insider Activity

In other news, Director Yann Echelard sold 10,000 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $36.94, for a total transaction of $369,400.00. Following the transaction, the director owned 228,816 shares of the company's stock, valued at $8,452,463.04. This represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.64% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded TG Therapeutics to a "hold" rating and set a $37.00 price objective on the stock in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $46.25.

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.