Public Sector Pension Investment Board Makes New Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

Public Sector Pension Investment Board acquired a new stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 283,000 shares of the biopharmaceutical company’s stock, valued at approximately $6,619,000.

Other hedge funds have also recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in TG Therapeutics during the 2nd quarter worth about $36,501,000. Hood River Capital Management LLC raised its stake in shares of TG Therapeutics by 6.7% in the second 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of TG Therapeutics by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock worth $27,708,000 after purchasing an additional 7,939 shares during the period. Principal Financial Group Inc. boosted 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 buying an additional 725,371 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in TG Therapeutics in the 2nd quarter worth approximately $10,423,000. 58.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Sagar Lonial sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the sale, the director now directly owns 100,195 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.50% of the company’s stock.

TG Therapeutics Trading Down 0.6 %

TGTX stock opened at $34.80 on Friday. TG Therapeutics, Inc. has a 52-week low of $12.37 and a 52-week high of $36.84. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The firm has a market cap of $5.42 billion, a P/E ratio of -348.00 and a beta of 2.19. The company’s 50-day simple moving average is $26.59 and its 200-day simple moving average is $22.26.

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

Analyst Ratings Changes

Several brokerages have commented on TGTX. TD Cowen started coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective for the company. B. Riley upped their price target on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. HC Wainwright lifted their price objective on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group lifted their price target on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research report 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.67.

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.