PDT Partners LLC Makes New $1.42 Million Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

PDT Partners LLC acquired a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 60,669 shares of the biopharmaceutical company’s stock, valued at approximately $1,419,000.

A number of other institutional investors have also modified their holdings of the company. Marshall Wace LLP acquired a new position in TG Therapeutics during the second quarter valued at approximately $36,501,000. Hood River Capital Management LLC boosted its position in TG Therapeutics by 6.7% during the 2nd quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock worth $27,982,000 after purchasing an additional 98,892 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in TG Therapeutics by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock valued at $27,708,000 after purchasing an additional 7,939 shares in the last quarter. Principal Financial Group Inc. raised its position in TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after purchasing an additional 725,371 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of TG Therapeutics during the second quarter worth about $10,423,000. Hedge funds and other institutional investors own 58.58% of the company’s stock.

Insider Activity

In other news, Director Sagar Lonial sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the transaction, the director now owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TGTX shares. HC Wainwright increased their target price on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. B. Riley lifted their price target on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. TD Cowen started coverage on TG Therapeutics in a research report on Tuesday, October 29th. They set a “buy” rating and a $50.00 target price on the stock. Finally, The Goldman Sachs Group increased their price target on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, TG Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $34.80 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -347.97 and a beta of 2.19. TG Therapeutics, Inc. has a one year low of $12.37 and a one year high of $36.84. The company’s 50-day simple moving average is $26.59 and its 200-day simple moving average is $22.29.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. TG Therapeutics’s revenue was down 49.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. Equities analysts anticipate that TG Therapeutics, Inc. will post 0.17 earnings per share for the current fiscal year.

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.