Persistent Asset Partners Ltd Acquires 13,411 Shares of 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 position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 59.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,072 shares of the biopharmaceutical company's stock after buying an additional 13,411 shares during the quarter. TG Therapeutics accounts for approximately 1.2% of Persistent Asset Partners Ltd's holdings, making the stock its 25th biggest holding. 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 added to or reduced their stakes in TGTX. Russell Investments Group Ltd. grew its position in shares of TG Therapeutics by 338.6% during the 1st quarter. Russell Investments Group Ltd. now owns 152,214 shares of the biopharmaceutical company's stock valued at $6,002,000 after buying an additional 117,508 shares during the last quarter. Informed Momentum Co LLC lifted its stake in TG Therapeutics by 0.9% during the first quarter. Informed Momentum Co LLC now owns 130,070 shares of the biopharmaceutical company's stock valued at $5,129,000 after purchasing an additional 1,147 shares during the last quarter. HighTower Advisors LLC lifted its stake in TG Therapeutics by 53.5% during the first quarter. HighTower Advisors LLC now owns 22,891 shares of the biopharmaceutical company's stock valued at $903,000 after purchasing an additional 7,979 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in TG Therapeutics by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 423,318 shares of the biopharmaceutical company's stock valued at $16,691,000 after purchasing an additional 90,741 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of TG Therapeutics in the 1st quarter valued at approximately $29,442,000. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Stock Performance

TG Therapeutics stock traded up $0.31 during mid-day trading on Friday, reaching $28.08. The company had a trading volume of 1,811,717 shares, compared to its average volume of 2,818,288. The company has a 50 day moving average of $35.07 and a 200-day moving average of $35.83. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 75.89 and a beta of 1.95. TG Therapeutics, Inc. has a 52 week low of $20.81 and a 52 week high of $46.48. The company has a quick ratio of 3.04, a current ratio of 3.86 and a debt-to-equity ratio of 0.89.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) 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 net margin of 13.31% and a return on equity of 26.05%. The company's revenue for the quarter was up 92.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. On average, sell-side analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at TG Therapeutics

In related news, Director Yann Echelard sold 10,000 shares of the business'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 transaction of $369,400.00. Following the completion of the transaction, the director owned 228,816 shares in the company, valued at approximately $8,452,463.04. The trade was a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded shares of TG Therapeutics to a "hold" rating and set a $37.00 price objective on the stock in a research note on Thursday, July 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.