Wellington Management Group LLP Has $47.83 Million Stock 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 raised its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 1,809.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 approximately 0.76% of TG Therapeutics worth $47,830,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vermillion Wealth Management Inc. bought a new position in shares of TG Therapeutics in the fourth quarter valued at $30,000. NBC Securities Inc. grew its stake in shares of TG Therapeutics by 82,300.0% in the first quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 823 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of TG Therapeutics by 100.0% in the first 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 in the last quarter. USA Financial Formulas bought a new position in shares of TG Therapeutics in the first quarter valued at $57,000. Finally, Brooklyn Investment Group grew its stake in shares of TG Therapeutics by 2,159.2% in the first quarter. Brooklyn Investment Group now owns 1,604 shares of the biopharmaceutical company's stock valued at $63,000 after buying an additional 1,533 shares in the last quarter. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Stock Performance

TGTX stock traded up $0.37 during midday trading on Friday, reaching $29.33. 1,819,010 shares of the company were exchanged, compared to its average volume of 2,939,163. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.86 and a quick ratio of 2.96. The business has a 50-day moving average price of $33.43 and a two-hundred day moving average price of $35.55. TG Therapeutics, Inc. has a one year low of $21.11 and a one year high of $46.48. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 79.27 and a beta of 1.95.

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 analysts' consensus estimates of $0.32 by ($0.15). TG Therapeutics had a return on equity of 26.05% and a net margin of 13.31%.The company had revenue of $141.15 million for the quarter, compared to the consensus estimate of $147.76 million. During the same period last year, the firm earned $0.04 earnings per share. The company's revenue for the quarter was up 92.1% compared to the same quarter last year. TG Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of TG Therapeutics 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 transaction, the director directly owned 228,816 shares of the company's stock, valued at $8,452,463.04. The trade was a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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 research note on Thursday, July 10th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company 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.