TG Therapeutics, Inc. $TGTX Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. decreased its holdings in TG Therapeutics by 10.3% during the 1st quarter, now owning approximately 0.93% of the company valued at $58.5 million.
• TG Therapeutics reported a quarterly revenue of $141.15 million, which was below analyst estimates of $147.76 million, and missed earnings expectations with an EPS of $0.17.
• The stock received a upgrade to a "hold" rating by The Goldman Sachs Group, with an average target price of $46.25 according to equities research analysts.

1832 Asset Management L.P. cut its position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,483,800 shares of the biopharmaceutical company's stock after selling 171,300 shares during the period. 1832 Asset Management L.P. owned 0.93% of TG Therapeutics worth $58,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of TGTX. CWM LLC grew its position in shares of TG Therapeutics by 16.2% in the 1st quarter. CWM LLC now owns 2,085 shares of the biopharmaceutical company's stock valued at $82,000 after buying an additional 290 shares during the last quarter. Golden State Wealth Management LLC grew its position 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 last quarter. Xponance Inc. grew its position in shares of TG Therapeutics by 5.3% in the 1st quarter. Xponance Inc. now owns 10,861 shares of the biopharmaceutical company's stock valued at $428,000 after buying an additional 543 shares during the last quarter. Choreo LLC grew its position in shares of TG Therapeutics by 7.6% in the 1st quarter. Choreo LLC now owns 8,547 shares of the biopharmaceutical company's stock valued at $337,000 after buying an additional 602 shares during the last quarter. Finally, NBC Securities Inc. grew its position in shares of TG Therapeutics by 82,300.0% in the 1st quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 823 shares during the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Yann Echelard sold 10,000 shares of the stock in a transaction 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 sale, the director owned 228,816 shares in the company, valued at $8,452,463.04. This represents a 4.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

TG Therapeutics Stock Performance

NASDAQ:TGTX traded down $0.25 during trading hours on Tuesday, reaching $28.28. 1,551,290 shares of the company's stock were exchanged, compared to its average volume of 2,480,122. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 76.43 and a beta of 1.95. The company has a 50-day moving average of $33.95 and a 200 day moving average of $35.69. 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 1-year low of $21.11 and a 1-year high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $141.15 million for the quarter, compared to analyst estimates of $147.76 million. TG Therapeutics had a return on equity of 26.05% and a net margin of 13.31%.The firm's revenue for the quarter was up 92.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. TG Therapeutics has set its FY 2025 guidance at EPS. Research analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

TG Therapeutics 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.