Citigroup Inc. Grows Stake in TG Therapeutics, Inc. (NASDAQ:TGTX)

Citigroup Inc. raised its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 125.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,277 shares of the biopharmaceutical company’s stock after buying an additional 93,730 shares during the quarter. Citigroup Inc.’s holdings in TG Therapeutics were worth $3,936,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TGTX. Marshall Wace LLP purchased a new position in TG Therapeutics during the 2nd quarter valued at $36,501,000. Principal Financial Group Inc. lifted its holdings in shares of TG Therapeutics by 1,549.4% in the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after buying an additional 725,371 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of TG Therapeutics in the 2nd quarter worth $10,423,000. Assenagon Asset Management S.A. purchased a new stake in shares of TG Therapeutics in the 2nd quarter worth $8,698,000. Finally, Eagle Asset Management Inc. purchased a new stake in shares of TG Therapeutics in the 3rd quarter worth $3,948,000. Hedge funds and other institutional investors own 58.58% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the sale, the director now directly 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 filing with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is owned by insiders.

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $33.39 on Wednesday. The business’s 50 day moving average is $26.82 and its two-hundred day moving average is $22.44. TG Therapeutics, Inc. has a 12-month low of $12.84 and a 12-month high of $36.84. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly 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 company had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. TG Therapeutics’s revenue for the quarter was down 49.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 EPS. On average, equities analysts expect that TG Therapeutics, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TGTX has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research note 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. B. Riley increased their price objective on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, HC Wainwright upped their target price on TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, TG Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $40.67.

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.