California State Teachers Retirement System Has $9.37 Million Stock Position in TG Therapeutics, Inc. $TGTX

Key Points

• California State Teachers Retirement System reduced its TG Therapeutics stake by 2.9% in the second quarter, selling 5,126 shares and retaining 170,624 shares valued at approximately $9.37 million. Institutional investors collectively own 58.58% of the company.
• TG Therapeutics reported quarterly revenue of $240.34 million, up 70.2% year over year and above analyst expectations, but earnings per share of $0.05 missed the $0.31 consensus estimate.
• Analyst sentiment is mixed, with a consensus “Hold” rating and average price target of $63.00; targets range from $20 to $83, while director Laurence Charney sold 5,000 shares at an average price of $54.96.

California State Teachers Retirement System lowered its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 170,624 shares of the biopharmaceutical company's stock after selling 5,126 shares during the quarter. California State Teachers Retirement System owned about 0.11% of TG Therapeutics worth $9,374,083 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in TG Therapeutics by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company's stock valued at $35,000 after buying an additional 365 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in TG Therapeutics by 82.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company's stock worth $37,000 after buying an additional 560 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of TG Therapeutics during the 2nd quarter worth $96,000. Covestor Ltd increased its position in shares of TG Therapeutics by 563.0% in the 4th quarter. Covestor Ltd now owns 1,810 shares of the biopharmaceutical company's stock valued at $54,000 after purchasing an additional 1,537 shares during the last quarter. Finally, Pingora Partners LLC increased its position in TG Therapeutics by 31.2% in the 4th quarter. Pingora Partners LLC now owns 2,100 shares of the biopharmaceutical company's stock valued at $63,000 after acquiring an additional 500 shares during the period. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Laurence Charney sold 5,000 shares of the company's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.96, for a total transaction of $274,800.00. Following the completion of the sale, the director directly owned 168,640 shares in the company, valued at $9,268,454.40. This represents a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.87% of the company's stock.

TG Therapeutics Stock Performance

Shares of TGTX traded down $0.92 during mid-day trading on Tuesday, reaching $53.08. 857,148 shares of the company's stock were exchanged, compared to its average volume of 2,169,345. The business's fifty day simple moving average is $53.61 and its 200-day simple moving average is $43.94. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72. The stock has a market capitalization of $8.12 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 2.31 and a beta of 1.67. TG Therapeutics, Inc. has a 52-week low of $26.76 and a 52-week high of $59.30.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The business had revenue of $240.34 million for the quarter, compared to analysts' expectations of $229.77 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. TG Therapeutics's revenue for the quarter was up 70.2% compared to the same quarter last year. On average, equities research analysts expect that TG Therapeutics, Inc. will post 0.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on TGTX. Zacks Research downgraded TG Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Monday, September 7th. JPMorgan Chase & Co. raised their target price on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Jefferies Financial Group reiterated a "buy" rating and issued a $83.00 price target on shares of TG Therapeutics in a research note on Monday, June 22nd. Bank of America boosted their price objective on TG Therapeutics from $17.00 to $20.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 7th. Finally, HC Wainwright reissued a "buy" rating and set a $78.00 price objective on shares of TG Therapeutics in a research note on Tuesday, September 1st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $63.00.

TG Therapeutics Profile

TG Therapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for B-cell diseases and autoimmune disorders. The company's research and development programs are centered on therapies that target B cells, which play an important role in several immune-mediated conditions.

TG Therapeutics' principal product is BRIUMVI (ublituximab-xiiy), an anti-CD20 monoclonal antibody approved by the U.S. Food and Drug Administration for the treatment of adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting multiple sclerosis and active secondary progressive multiple sclerosis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.