1832 Asset Management L.P. Sells 171,300 Shares of TG Therapeutics, Inc. $TGTX

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. lessened its position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 10.3% in the first quarter, according to its most recent disclosure with the SEC. The firm 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 approximately 0.93% of TG Therapeutics worth $58,506,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Soleus Capital Management L.P. boosted its position in shares of TG Therapeutics by 5.8% during the fourth 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 position in shares of TG Therapeutics by 8.6% during the fourth 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. Wellington Management Group LLP boosted its position in shares of TG Therapeutics by 1,809.9% during the first quarter. Wellington Management Group LLP now owns 1,213,039 shares of the biopharmaceutical company's stock valued at $47,830,000 after buying an additional 1,149,526 shares during the last quarter. Invesco Ltd. boosted its position in shares of TG Therapeutics by 30.2% during the first quarter. Invesco Ltd. now owns 1,210,842 shares of the biopharmaceutical company's stock valued at $47,744,000 after buying an additional 281,099 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of TG Therapeutics by 1.3% during the first 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. Hedge funds and other institutional investors own 58.58% of the company's stock.

TG Therapeutics Stock Performance

Shares of TGTX traded up $0.14 during mid-day trading on Thursday, hitting $28.71. The stock had a trading volume of 812,746 shares, compared to its average volume of 2,470,516. The firm has a market cap of $4.56 billion, a P/E ratio of 77.61 and a beta of 1.95. The business has a fifty day moving average price of $33.69 and a 200-day moving average price of $35.59. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.86 and a quick ratio of 2.96. TG Therapeutics, Inc. has a 52 week low of $21.11 and a 52 week high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its 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 during 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 business's quarterly revenue was up 92.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. TG Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Insider Activity

In related news, Director Yann Echelard sold 10,000 shares of the business's 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 sale, the director directly owned 228,816 shares in the company, valued at approximately $8,452,463.04. The trade was a 4.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 10.64% of the company's stock.

Analysts Set New Price Targets

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. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, TG Therapeutics currently has an average 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.