Invesco Ltd. Purchases 281,099 Shares of TG Therapeutics, Inc. $TGTX

Key Points

• Invesco Ltd. increased its stake in TG Therapeutics by 30.2%, acquiring an additional 281,099 shares in the first quarter, valuing their total ownership at approximately $47.7 million.
• Multiple institutional investors, including Envestnet Asset Management and Russell Investments Group, also reported increased holdings in TG Therapeutics, accumulating to 58.58% of the company's total stock ownership.
• The company recently reported a quarterly EPS of $0.17, which fell short of analysts' expectations, while revenue grew by 92.1% year-over-year, totaling $141.15 million.

Invesco Ltd. increased its stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 30.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,210,842 shares of the biopharmaceutical company's stock after buying an additional 281,099 shares during the quarter. Invesco Ltd. owned approximately 0.76% of TG Therapeutics worth $47,744,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Soleus Capital Management L.P. boosted its holdings in shares of TG Therapeutics by 5.8% in the 4th quarter. Soleus Capital Management L.P. now owns 2,681,242 shares of the biopharmaceutical company's stock valued at $80,705,000 after buying an additional 146,702 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of TG Therapeutics by 8.6% in the 4th quarter. Northern Trust Corp now owns 1,532,929 shares of the biopharmaceutical company's stock valued at $46,141,000 after buying an additional 120,785 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of TG Therapeutics by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 841,011 shares of the biopharmaceutical company's stock valued at $33,161,000 after buying an additional 10,827 shares during the last quarter. Braun Stacey Associates Inc. boosted its holdings in shares of TG Therapeutics by 13.5% in the 1st quarter. Braun Stacey Associates Inc. now owns 502,650 shares of the biopharmaceutical company's stock valued at $19,819,000 after buying an additional 59,845 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of TG Therapeutics in the 4th quarter valued at approximately $14,508,000. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Stock Performance

TGTX stock traded up $0.39 during trading hours on Wednesday, hitting $28.31. 1,476,221 shares of the stock were exchanged, compared to its average volume of 2,499,452. The company has a current ratio of 3.86, a quick ratio of 2.96 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $4.49 billion, a P/E ratio of 76.51 and a beta of 1.95. The company has a 50-day simple moving average of $34.60 and a two-hundred day simple moving average of $35.78. TG Therapeutics, Inc. has a 12 month low of $21.11 and a 12 month high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.15). The firm 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 firm's quarterly revenue was up 92.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. TG Therapeutics has set its FY 2025 guidance at EPS. On average, analysts forecast that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised TG Therapeutics to a "hold" rating and set a $37.00 price objective for the company in a report on Thursday, July 10th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.25.

Insiders Place Their Bets

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of the stock in a transaction 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 owned 228,816 shares in the company, valued at $8,452,463.04. This trade represents a 4.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.64% of the stock is owned by insiders.

TG Therapeutics Company 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.