26,895 Shares in TG Therapeutics, Inc. $TGTX Bought by Wealthedge Investment Advisors LLC

Key Points

• Wealthedge Investment Advisors LLC has acquired a new stake in TG Therapeutics, purchasing 26,895 shares valued at approximately $1,060,000 during the first quarter of 2023.
• TG Therapeutics reported quarterly earnings, missing estimates with $0.17 EPS compared to a consensus of $0.32, and revenue of $141.15 million, which was below expectations of $147.76 million.
• Goldman Sachs Group upgraded TG Therapeutics to a "hold" rating with a target price of $37.00, reflecting a cautious yet optimistic outlook following a significant gain in stock performance.

Wealthedge Investment Advisors LLC acquired a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,895 shares of the biopharmaceutical company's stock, valued at approximately $1,060,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew its position in TG Therapeutics by 16.2% during the 1st quarter. CWM LLC now owns 2,085 shares of the biopharmaceutical company's stock worth $82,000 after acquiring an additional 290 shares during the last quarter. Golden State Wealth Management LLC raised its stake in TG Therapeutics by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 433 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of TG Therapeutics by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,606 shares of the biopharmaceutical company's stock worth $440,000 after purchasing an additional 463 shares during the last quarter. Xponance Inc. lifted its holdings in TG Therapeutics by 5.3% in the first quarter. Xponance Inc. now owns 10,861 shares of the biopharmaceutical company's stock valued at $428,000 after acquiring an additional 543 shares during the last quarter. Finally, Choreo LLC lifted its stake in TG Therapeutics by 7.6% during the first quarter. Choreo LLC now owns 8,547 shares of the biopharmaceutical company's stock worth $337,000 after purchasing an additional 602 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company's stock.

Insider Transactions at TG Therapeutics

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of the business's 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 transaction, the director directly owned 228,816 shares of the company's stock, valued at approximately $8,452,463.04. The trade was a 4.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.64% of the stock is currently owned by corporate insiders.

TG Therapeutics Stock Up 1.1%

TGTX traded up $0.31 on Friday, hitting $28.08. 1,811,717 shares of the company were exchanged, compared to its average volume of 2,819,183. TG Therapeutics, Inc. has a twelve month low of $20.81 and a twelve month high of $46.48. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 75.89 and a beta of 1.95. The company has a current ratio of 3.86, a quick ratio of 2.96 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average price of $35.07 and a two-hundred day moving average price of $35.87.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released 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 26.05%. The company had revenue of $141.15 million during the quarter, compared to analysts' expectations of $147.76 million. During the same period last year, the business earned $0.04 earnings per share. The company's revenue for the quarter was up 92.1% compared to the same quarter last year. On average, equities analysts predict that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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 report on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.