Banque Pictet & Cie SA Invests $519,000 in TG Therapeutics, Inc. (NASDAQ:TGTX)

Banque Pictet & Cie SA purchased a new position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,151 shares of the biopharmaceutical company's stock, valued at approximately $519,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TGTX. Arizona State Retirement System raised its stake in shares of TG Therapeutics by 0.9% in the 4th quarter. Arizona State Retirement System now owns 42,639 shares of the biopharmaceutical company's stock valued at $1,283,000 after purchasing an additional 364 shares during the period. Golden State Wealth Management LLC raised its stake in shares of TG Therapeutics by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 433 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of TG Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,606 shares of the biopharmaceutical company's stock valued at $440,000 after acquiring an additional 463 shares in the last quarter. NBC Securities Inc. grew its holdings in shares of TG Therapeutics by 82,300.0% in the 1st quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 823 shares in the last quarter. Finally, Redwood Investments LLC grew its holdings in shares of TG Therapeutics by 0.9% in the 4th quarter. Redwood Investments LLC now owns 94,554 shares of the biopharmaceutical company's stock valued at $2,846,000 after acquiring an additional 886 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Yann Echelard sold 10,000 shares of TG Therapeutics 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 transaction, the director owned 228,816 shares in the company, valued at approximately $8,452,463.04. This trade represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.64% of the company's stock.

TG Therapeutics Stock Up 4.9%

Shares of NASDAQ TGTX traded up $1.83 during mid-day trading on Monday, hitting $38.92. The company had a trading volume of 1,632,165 shares, compared to its average volume of 2,871,761. The company has a market capitalization of $6.18 billion, a PE ratio of 162.17 and a beta of 1.91. The firm has a 50-day simple moving average of $36.05 and a two-hundred day simple moving average of $35.32. The company has a current ratio of 4.02, a quick ratio of 3.04 and a debt-to-equity ratio of 1.03. TG Therapeutics, Inc. has a one year low of $16.65 and a one year high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.16). TG Therapeutics had a return on equity of 18.88% and a net margin of 10.13%. The business had revenue of $120.86 million for the quarter, compared to the consensus estimate of $117.07 million. During the same quarter in the previous year, the business posted ($0.07) EPS. The company's revenue for the quarter was up 90.4% on a year-over-year basis. On average, equities analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded TG Therapeutics to a "hold" rating and set a $37.00 price objective for the company in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.80.

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.