Wellington Management Group LLP Boosts Position in TG Therapeutics, Inc. $TGTX

Key Points

• Wellington Management Group LLP significantly increased its stake in TG Therapeutics, acquiring an additional 1,149,526 shares in Q1, resulting in an overall ownership of 1,213,039 shares valued at approximately $47.8 million.
• Hedge funds have shown strong interest in TG Therapeutics, with notable increases in their positions, such as Brooklyn Investment Group by 2,159.2% and Algert Global LLC by 57.0% during the same quarter.
• Despite a revenue increase of 92.1% year-over-year, TG Therapeutics reported earnings per share of $0.17, missing analyst expectations, leading to a reassessment of the stock's rating by Goldman Sachs to "hold" with a target price of $37.

Wellington Management Group LLP boosted its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 1,809.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,213,039 shares of the biopharmaceutical company's stock after acquiring an additional 1,149,526 shares during the quarter. Wellington Management Group LLP owned 0.76% of TG Therapeutics worth $47,830,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TGTX. Brooklyn Investment Group increased its position in shares of TG Therapeutics by 2,159.2% during the 1st quarter. Brooklyn Investment Group now owns 1,604 shares of the biopharmaceutical company's stock valued at $63,000 after purchasing an additional 1,533 shares during the last quarter. CacheTech Inc. purchased a new stake in TG Therapeutics during the first quarter valued at approximately $264,000. Algert Global LLC increased its holdings in TG Therapeutics by 57.0% during the first quarter. Algert Global LLC now owns 77,041 shares of the biopharmaceutical company's stock valued at $3,038,000 after buying an additional 27,980 shares during the last quarter. Adams Wealth Management purchased a new stake in TG Therapeutics during the first quarter valued at approximately $264,000. Finally, Raymond James Financial Inc. increased its holdings in TG Therapeutics by 42.6% during the first quarter. Raymond James Financial Inc. now owns 687,100 shares of the biopharmaceutical company's stock valued at $27,092,000 after buying an additional 205,111 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company's stock.

Insider Activity

In other 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 value of $369,400.00. Following the completion of the sale, the director directly owned 228,816 shares of the company's stock, valued at $8,452,463.04. This represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.64% of the stock is currently owned by company insiders.

TG Therapeutics Trading Up 2.3%

TG Therapeutics stock opened at $29.44 on Friday. The firm has a 50 day moving average of $34.09 and a 200 day moving average of $35.71. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 79.57 and a beta of 1.95. TG Therapeutics, Inc. has a 12-month low of $21.11 and a 12-month high of $46.48. The company has a current ratio of 3.86, a quick ratio of 2.96 and a debt-to-equity ratio of 0.89.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released 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 analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 earnings per share. TG Therapeutics has set its FY 2025 guidance at EPS. As a group, research analysts predict that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised shares of TG Therapeutics to a "hold" rating and set a $37.00 target price for the company in a 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $46.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.