Cinctive Capital Management LP Buys New Position in TG Therapeutics, Inc. $TGTX

Key Points

• Cinctive Capital Management LP has purchased 14,145 shares of TG Therapeutics, Inc. for approximately $558,000 during the first quarter of 2023.
• The director, Yann Echelard, sold 10,000 shares of TG Therapeutics for $369,400, representing a 4.19% decrease in their ownership stake.
• The stock has been upgraded to a "hold" rating by The Goldman Sachs Group with a price target set at $37.00, while the consensus price target stands at $46.25.

Cinctive Capital Management LP purchased a new stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,145 shares of the biopharmaceutical company's stock, valued at approximately $558,000.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in TG Therapeutics by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 23,775 shares of the biopharmaceutical company's stock valued at $898,000 after buying an additional 8,338 shares during the period. New York State Teachers Retirement System grew its stake in TG Therapeutics by 175.0% in the first quarter. New York State Teachers Retirement System now owns 120,364 shares of the biopharmaceutical company's stock valued at $4,746,000 after purchasing an additional 76,600 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in TG Therapeutics in the first quarter valued at about $226,000. GAMMA Investing LLC grew its stake in TG Therapeutics by 77.7% in the first quarter. GAMMA Investing LLC now owns 4,543 shares of the biopharmaceutical company's stock valued at $179,000 after purchasing an additional 1,986 shares in the last quarter. Finally, Braun Stacey Associates Inc. grew its stake in TG Therapeutics by 13.5% in the first quarter. Braun Stacey Associates Inc. now owns 502,650 shares of the biopharmaceutical company's stock valued at $19,819,000 after purchasing an additional 59,845 shares in the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Yann Echelard sold 10,000 shares of the company's 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 sale, the director owned 228,816 shares in the company, valued at approximately $8,452,463.04. This represents a 4.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 10.64% of the company's stock.

TG Therapeutics Stock Up 0.5%

Shares of TGTX traded up $0.17 during trading hours on Monday, hitting $32.38. 2,498,461 shares of the company were exchanged, compared to its average volume of 2,132,359. The company has a market cap of $5.14 billion, a PE ratio of 87.51 and a beta of 1.88. The firm's 50 day moving average is $32.74 and its 200-day moving average is $35.63. TG Therapeutics, Inc. has a 52 week low of $21.16 and a 52 week high of $46.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.96 and a current ratio of 3.86.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released 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). The company had revenue of $141.15 million for the quarter, compared to the consensus estimate of $147.76 million. TG Therapeutics had a return on equity of 26.05% and a net margin of 13.31%.The business's revenue was up 92.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS. TG Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

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.