Penserra Capital Management LLC Makes New $1.89 Million Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

Penserra Capital Management LLC bought a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 47,855 shares of the biopharmaceutical company's stock, valued at approximately $1,886,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. increased its stake in TG Therapeutics by 82,300.0% during the first quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 823 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of TG Therapeutics by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 433 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of TG Therapeutics in the 4th quarter valued at $30,000. USA Financial Formulas purchased a new stake in shares of TG Therapeutics in the 1st quarter valued at $57,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of TG Therapeutics by 137.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,686 shares of the biopharmaceutical company's stock valued at $51,000 after buying an additional 975 shares during the period. Institutional investors and hedge funds own 58.58% of the company's stock.

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 research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, TG Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $43.80.

TG Therapeutics Stock Performance

Shares of TGTX traded down $0.59 during mid-day trading on Friday, reaching $37.08. 957,478 shares of the company's stock traded hands, compared to its average volume of 2,877,974. The business's 50-day moving average price is $36.05 and its 200-day moving average price is $35.28. The stock has a market capitalization of $5.89 billion, a P/E ratio of 154.50 and a beta of 1.91. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.04 and a current ratio of 4.02. TG Therapeutics, Inc. has a 12 month low of $16.65 and a 12 month high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.16). The company had revenue of $120.86 million during the quarter, compared to the consensus estimate of $117.07 million. TG Therapeutics had a net margin of 10.13% and a return on equity of 18.88%. TG Therapeutics's quarterly revenue was up 90.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) EPS. Equities analysts predict that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at TG Therapeutics

In related news, Director Yann Echelard sold 10,000 shares of the company's stock in a transaction 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 directly owned 228,816 shares in the company, valued at approximately $8,452,463.04. This represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 10.64% of the stock is currently owned by corporate insiders.

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.