Rhenman & Partners Asset Management AB Grows Stock Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Rhenman & Partners Asset Management AB raised its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 53.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 262,500 shares of the biopharmaceutical company’s stock after acquiring an additional 91,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in TG Therapeutics were worth $7,901,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TGTX. Blue Trust Inc. boosted its position in shares of TG Therapeutics by 24.5% in the fourth quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 371 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in TG Therapeutics by 512.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,905 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 1,594 shares during the period. Jones Financial Companies Lllp raised its stake in TG Therapeutics by 460.7% during the fourth quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 1,737 shares during the period. Synergy Asset Management LLC acquired a new position in shares of TG Therapeutics in the 4th quarter valued at $75,000. Finally, GAMMA Investing LLC grew its stake in shares of TG Therapeutics by 562.4% during the 4th quarter. GAMMA Investing LLC now owns 2,557 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 2,171 shares during the period. Institutional investors and hedge funds own 58.58% of the company’s stock.

Insider Buying and Selling at TG Therapeutics

In other news, CFO Sean A. Power sold 10,021 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $28.53, for a total value of $285,899.13. Following the completion of the transaction, the chief financial officer now directly owns 660,611 shares in the company, valued at approximately $18,847,231.83. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is owned by corporate insiders.

TG Therapeutics Stock Down 5.1 %

Shares of NASDAQ TGTX opened at $37.35 on Friday. The stock has a fifty day moving average price of $35.27 and a 200 day moving average price of $30.81. The company has a market cap of $5.87 billion, a P/E ratio of -373.46 and a beta of 2.13. TG Therapeutics, Inc. has a 12-month low of $12.93 and a 12-month high of $43.32. 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 earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $108.19 million during the quarter, compared to analyst estimates of $100.67 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. Research analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TGTX. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of TG Therapeutics in a research report on Tuesday, March 4th. StockNews.com upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, TG Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target 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.