Woodline Partners LP Makes New Investment in TG Therapeutics, Inc. $TGTX

Key Points

• Woodline Partners LP has acquired a new position in TG Therapeutics, purchasing 533,134 shares valued at approximately $21.02 million, representing about 0.34% of the company.
• Other institutional investors, including Wellington Management Group and Goldman Sachs Group, have also significantly increased their stakes in TG Therapeutics during the 1st quarter.
• TG Therapeutics reported a missed earnings estimate for the last quarter, with revenue up 92.1% year-over-year but below analyst expectations.

Woodline Partners LP acquired a new position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 533,134 shares of the biopharmaceutical company's stock, valued at approximately $21,021,000. Woodline Partners LP owned about 0.34% of TG Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in TGTX. Wellington Management Group LLP increased its holdings in TG Therapeutics by 1,809.9% in the 1st quarter. Wellington Management Group LLP now owns 1,213,039 shares of the biopharmaceutical company's stock worth $47,830,000 after acquiring an additional 1,149,526 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in TG Therapeutics in the 1st quarter worth about $30,545,000. Nuveen LLC bought a new position in TG Therapeutics in the 1st quarter worth about $29,442,000. Goldman Sachs Group Inc. grew its holdings in TG Therapeutics by 21.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company's stock valued at $75,683,000 after buying an additional 345,059 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in TG Therapeutics by 30.2% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 58.58% of the company's stock.

TG Therapeutics Price Performance

NASDAQ:TGTX traded down $0.24 during mid-day trading on Tuesday, reaching $31.51. The stock had a trading volume of 502,481 shares, compared to its average volume of 2,451,074. The firm has a 50 day moving average price of $32.30 and a two-hundred day moving average price of $35.73. The stock has a market capitalization of $5.00 billion, a P/E ratio of 85.04 and a beta of 1.88. TG Therapeutics, Inc. has a one year low of $21.16 and a one year high of $46.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.96 and a current ratio of 3.86.

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 for the quarter, missing analysts' consensus estimates 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 return on equity of 26.05% and a net margin of 13.31%.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 EPS. TG Therapeutics has set its FY 2025 guidance at EPS. As a group, analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, TG Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $46.25.

Insiders Place Their Bets

In related news, Director Sagar Lonial sold 20,852 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.24, for a total value of $672,268.48. Following the completion of the sale, the director owned 94,061 shares in the company, valued at $3,032,526.64. The trade was a 18.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.64% of the stock is owned by insiders.

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.