Persistent Asset Partners Ltd Has $1.42 Million Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

Key Points

• Persistent Asset Partners Ltd increased its holdings in TG Therapeutics, Inc. by 59.2% during the first quarter, now owning 36,072 shares valued at approximately $1.42 million.
• Several other institutional investors have also significantly increased their positions in TG Therapeutics, with Wells Fargo boosting its shareholding by 85.4% during the fourth quarter.
• TG Therapeutics reported $0.17 EPS for the last quarter, missing estimates, but achieved a year-over-year revenue increase of 92.1%.

Persistent Asset Partners Ltd boosted its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 59.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,072 shares of the biopharmaceutical company's stock after buying an additional 13,411 shares during the quarter. TG Therapeutics makes up approximately 1.2% of Persistent Asset Partners Ltd's investment portfolio, making the stock its 25th largest position. Persistent Asset Partners Ltd's holdings in TG Therapeutics were worth $1,422,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TGTX. Wells Fargo & Company MN increased its position in TG Therapeutics by 85.4% during the fourth quarter. Wells Fargo & Company MN now owns 331,403 shares of the biopharmaceutical company's stock worth $9,975,000 after buying an additional 152,682 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of TG Therapeutics by 11.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 50,111 shares of the biopharmaceutical company's stock worth $1,508,000 after buying an additional 5,135 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in TG Therapeutics by 323.2% in the 4th quarter. Russell Investments Group Ltd. now owns 34,706 shares of the biopharmaceutical company's stock valued at $1,045,000 after acquiring an additional 26,506 shares during the period. Bank of Montreal Can raised its holdings in TG Therapeutics by 7.3% in the 4th quarter. Bank of Montreal Can now owns 20,016 shares of the biopharmaceutical company's stock valued at $602,000 after acquiring an additional 1,357 shares during the period. Finally, Invesco Ltd. raised its holdings in TG Therapeutics by 1.2% in the 4th quarter. Invesco Ltd. now owns 929,743 shares of the biopharmaceutical company's stock valued at $27,985,000 after acquiring an additional 10,989 shares during the period. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Trading Down 1.2%

Shares of NASDAQ:TGTX opened at $26.39 on Tuesday. The company has a market capitalization of $4.19 billion, a P/E ratio of 71.32 and a beta of 1.95. TG Therapeutics, Inc. has a 1 year low of $20.05 and a 1 year high of $46.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.02 and a quick ratio of 3.04. The business's 50 day simple moving average is $35.91 and its 200 day simple moving average is $36.01.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.15). TG Therapeutics had a net margin of 13.31% and a return on equity of 27.83%. The firm had revenue of $141.15 million for the quarter, compared to analyst estimates of $147.76 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. The firm's revenue for the quarter was up 92.1% on a year-over-year basis. On average, research analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of the firm'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 sale, the director owned 228,816 shares in the company, valued at $8,452,463.04. This trade represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 10.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised TG Therapeutics to a "hold" rating and set a $37.00 target price on the stock in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.25.

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.

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