Woodline Partners LP Takes $21.02 Million Position 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 bought a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 533,134 shares of the biopharmaceutical company's stock, valued at approximately $21,021,000. Woodline Partners LP owned approximately 0.34% of TG Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TGTX. Wellington Management Group LLP increased its position in shares of TG Therapeutics by 1,809.9% during the 1st quarter. Wellington Management Group LLP now owns 1,213,039 shares of the biopharmaceutical company's stock valued at $47,830,000 after purchasing an additional 1,149,526 shares during the period. Driehaus Capital Management LLC acquired a new position in TG Therapeutics during the first quarter worth about $30,545,000. Nuveen LLC bought a new stake in TG Therapeutics in the first quarter worth about $29,442,000. Goldman Sachs Group Inc. lifted its holdings in TG Therapeutics by 21.9% in 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 acquiring an additional 345,059 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of 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 purchasing an additional 281,099 shares in the last quarter. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Trading Down 0.5%

Shares of TGTX opened at $31.83 on Thursday. The business's 50-day moving average price is $32.58 and its 200 day moving average price is $35.58. 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 stock has a market capitalization of $5.05 billion, a P/E ratio of 86.03 and a beta of 1.88. TG Therapeutics, Inc. has a 1-year low of $21.16 and a 1-year high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its earnings results on Monday, August 4th. The biopharmaceutical company reported $0.17 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 analyst estimates 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 business earned $0.04 earnings per share. TG Therapeutics has set its FY 2025 guidance at EPS. Analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at TG Therapeutics

In related news, Director Yann Echelard sold 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 228,816 shares of the company's stock, valued at approximately $8,452,463.04. This trade represents a 4.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.64% of the company's stock.

Wall Street Analysts Forecast Growth

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

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