Driehaus Capital Management LLC Takes Position in TG Therapeutics, Inc. $TGTX

Key Points

• Driehaus Capital Management LLC has acquired a new position in TG Therapeutics, purchasing 774,656 shares valued at approximately $30.55 million, representing about 0.49% of the company.
• Insider transactions show that Director Yann Echelard sold 10,000 shares at an average price of $36.94, reducing his ownership by 4.19%.
• The company's stock has a market capitalization of $4.65 billion and reported a 92.1% increase in revenue year-over-year, though it missed EPS estimates.

Driehaus Capital Management LLC purchased a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 774,656 shares of the biopharmaceutical company's stock, valued at approximately $30,545,000. Driehaus Capital Management LLC owned approximately 0.49% of TG Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CWM LLC increased its holdings in shares of TG Therapeutics by 16.2% during the first quarter. CWM LLC now owns 2,085 shares of the biopharmaceutical company's stock valued at $82,000 after acquiring an additional 290 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of TG Therapeutics by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 433 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of 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 acquiring an additional 511 shares in the last quarter. Xponance Inc. increased its holdings in shares of 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 acquiring an additional 543 shares in the last quarter. Finally, Choreo LLC grew its holdings in TG Therapeutics by 7.6% during the first quarter. Choreo LLC now owns 8,547 shares of the biopharmaceutical company's stock worth $337,000 after buying an additional 602 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded TG Therapeutics to a "hold" rating and set a $37.00 price target for the company in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently 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 business's stock in a transaction that occurred 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 directly owned 228,816 shares of the company's stock, valued at approximately $8,452,463.04. The trade was a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.64% of the company's stock.

TG Therapeutics Price Performance

Shares of NASDAQ TGTX traded up $0.37 during trading hours on Monday, reaching $29.33. 1,819,010 shares of the stock traded hands, compared to its average volume of 2,914,001. The company has a market capitalization of $4.65 billion, a P/E ratio of 79.27 and a beta of 1.88. The company has a quick ratio of 2.96, a current ratio of 3.86 and a debt-to-equity ratio of 0.89. TG Therapeutics, Inc. has a 52-week low of $21.11 and a 52-week high of $46.48. The company's 50-day simple moving average is $33.28 and its two-hundred day simple moving average is $35.61.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $147.76 million. During the same period in the prior year, the business posted $0.04 earnings per share. The business's quarterly revenue was up 92.1% on a year-over-year basis. TG Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current 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.