Y Intercept Hong Kong Ltd Purchases Shares of 16,939 TG Therapeutics, Inc. (NASDAQ:TGTX)

Key Points

• Y Intercept Hong Kong Ltd has acquired a new stake in TG Therapeutics, purchasing 16,939 shares valued at approximately $668,000 during the 1st quarter.
• In the 4th quarter, several institutional investors, including HighTower Advisors and LPL Financial, increased their holdings in TG Therapeutics, indicating growing confidence in the company's potential.
• TG Therapeutics recently reported $0.03 earnings per share, missing analysts' expectations, but showed a revenue increase of 90.4% year-over-year to $120.86 million.

Y Intercept Hong Kong Ltd acquired a new stake in shares of 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 & Exchange Commission. The firm acquired 16,939 shares of the biopharmaceutical company's stock, valued at approximately $668,000.

A number of other institutional investors have also recently bought and sold shares of the company. Clearbridge Investments LLC acquired a new stake in shares of TG Therapeutics during the 4th quarter valued at about $55,237,000. Raymond James Financial Inc. acquired a new stake in shares of TG Therapeutics during the 4th quarter valued at about $14,508,000. Norges Bank acquired a new stake in shares of TG Therapeutics during the 4th quarter valued at about $12,085,000. Penn Capital Management Company LLC acquired a new stake in shares of TG Therapeutics during the 4th quarter valued at about $10,577,000. Finally, First Trust Advisors LP lifted its holdings in shares of TG Therapeutics by 871.7% during the 4th quarter. First Trust Advisors LP now owns 275,496 shares of the biopharmaceutical company's stock valued at $8,292,000 after buying an additional 247,145 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company's stock.

Insider Activity at TG Therapeutics

In other news, Director Yann Echelard sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was 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 in the company, valued at $8,452,463.04. The trade was a 4.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded TG Therapeutics to a "hold" rating and set a $37.00 price target for the company in a research note on Thursday, July 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, TG Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $43.80.

TG Therapeutics Stock Performance

Shares of NASDAQ TGTX traded up $0.94 during trading hours on Wednesday, hitting $36.27. 2,139,612 shares of the stock were exchanged, compared to its average volume of 1,418,493. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.02 and a quick ratio of 3.04. The company's 50 day moving average is $36.79 and its 200 day moving average is $35.92. The firm has a market capitalization of $5.76 billion, a P/E ratio of 151.13 and a beta of 1.91. TG Therapeutics, Inc. has a one year low of $16.65 and a one year high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.16). TG Therapeutics had a return on equity of 18.88% and a net margin of 10.13%. The business had revenue of $120.86 million for the quarter, compared to analyst estimates of $117.07 million. During the same period in the prior year, the firm posted ($0.07) EPS. TG Therapeutics's revenue for the quarter was up 90.4% on a year-over-year basis. On average, research analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

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.