Algert Global LLC Has $3.04 Million Stock Position in TG Therapeutics, Inc. $TGTX

Key Points

• Algert Global LLC increased its stake in TG Therapeutics, Inc. by 57.0% during the first quarter, owning a total of 77,041 shares valued at approximately $3 million.
• Several institutional investors, including Allspring Global Investments and New York State Teachers Retirement System, also significantly boosted their holdings in the company during the same period, indicating strong institutional interest.
• TG Therapeutics reported a revenue increase of 92.1% year-over-year, though it missed earnings expectations, posting $0.17 EPS against a consensus estimate of $0.32 EPS.

Algert Global LLC increased its position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 57.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,041 shares of the biopharmaceutical company's stock after buying an additional 27,980 shares during the period. Algert Global LLC's holdings in TG Therapeutics were worth $3,038,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Adams Wealth Management acquired a new position in TG Therapeutics in the first quarter worth approximately $264,000. Raymond James Financial Inc. increased its holdings in TG Therapeutics by 42.6% in the first quarter. Raymond James Financial Inc. now owns 687,100 shares of the biopharmaceutical company's stock worth $27,092,000 after buying an additional 205,111 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new position in TG Therapeutics in the first quarter worth approximately $1,060,000. Sector Gamma AS acquired a new position in TG Therapeutics in the first quarter worth approximately $2,169,000. Finally, Fox Run Management L.L.C. acquired a new position in TG Therapeutics in the first quarter worth approximately $749,000. Institutional investors and hedge funds own 58.58% of the company's stock.

Analyst Upgrades and Downgrades

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

TG Therapeutics Stock Performance

Shares of TG Therapeutics stock traded up $0.67 during midday trading on Friday, hitting $29.44. The company had a trading volume of 2,182,164 shares, compared to its average volume of 2,885,902. The business's 50 day simple moving average is $34.09 and its two-hundred day simple moving average is $35.71. The stock has a market cap of $4.67 billion, a PE ratio of 79.57 and a beta of 1.95. 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 1-year low of $21.11 and a 1-year high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $141.15 million during 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 company's revenue was up 92.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.04 EPS. TG Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, Director Yann Echelard sold 10,000 shares of the firm'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 sale, the director owned 228,816 shares in the company, valued at approximately $8,452,463.04. This trade represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.64% of the company's stock.

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.