Cinctive Capital Management LP Purchases Shares of 14,145 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 bought a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,145 shares of the biopharmaceutical company's stock, valued at approximately $558,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. CWM LLC raised its holdings in shares of TG Therapeutics by 16.2% during the 1st quarter. CWM LLC now owns 2,085 shares of the biopharmaceutical company's stock worth $82,000 after acquiring an additional 290 shares in the last quarter. Golden State Wealth Management LLC increased its position in TG Therapeutics by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 433 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in TG Therapeutics by 26.8% during the first quarter. Smartleaf Asset Management LLC now owns 2,416 shares of the biopharmaceutical company's stock valued at $96,000 after purchasing an additional 511 shares in the last quarter. Xponance Inc. raised its stake in TG Therapeutics by 5.3% during the first quarter. Xponance Inc. now owns 10,861 shares of the biopharmaceutical company's stock valued at $428,000 after purchasing an additional 543 shares in the last quarter. Finally, Choreo LLC lifted its position in TG Therapeutics by 7.6% during the first quarter. Choreo LLC now owns 8,547 shares of the biopharmaceutical company's stock valued at $337,000 after purchasing an additional 602 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Trading Up 2.0%

Shares of NASDAQ TGTX traded up $0.63 during mid-day trading on Thursday, reaching $32.46. The company had a trading volume of 1,610,642 shares, compared to its average volume of 1,956,913. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 87.73 and a beta of 1.88. TG Therapeutics, Inc. has a 52 week low of $21.16 and a 52 week high of $46.48. The business's 50-day moving average is $32.48 and its 200-day moving average is $35.61. 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 (NASDAQ:TGTX - Get Free Report) last issued its earnings results on Monday, August 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.15). The company had revenue of $141.15 million during 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%.TG Therapeutics's revenue was up 92.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 earnings per share. TG Therapeutics has set its FY 2025 guidance at EPS. Equities analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at TG Therapeutics

In other news, Director Yann Echelard sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $36.94, for a total value of $369,400.00. Following the completion of the sale, the director owned 228,816 shares of the company's stock, valued at approximately $8,452,463.04. This represents a 4.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.64% of the company's stock.

TG Therapeutics 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.