TG Therapeutics, Inc. (NASDAQ:TGTX) Shares Sold by Raymond James & Associates

Posted by Defense World Staff on May 30th, 2023

Raymond James & Associates lowered its stake in TG Therapeutics, Inc. (NASDAQ:TGTX – Get Rating) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,213 shares of the biopharmaceutical company’s stock after selling 11,925 shares during the period. Raymond James & Associates owned about 0.13% of TG Therapeutics worth $2,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in TGTX. Belpointe Asset Management LLC acquired a new stake in TG Therapeutics in the fourth quarter valued at approximately $25,000. UBS Group AG lifted its position in shares of TG Therapeutics by 1,973.1% during the 4th quarter. UBS Group AG now owns 455,767 shares of the biopharmaceutical company’s stock worth $5,392,000 after purchasing an additional 433,782 shares during the last quarter. Prospera Financial Services Inc acquired a new position in shares of TG Therapeutics during the fourth quarter worth $221,000. Swiss National Bank raised its position in shares of TG Therapeutics by 2.4% during the 4th quarter. Swiss National Bank now owns 333,200 shares of the biopharmaceutical company’s stock worth $3,942,000 after acquiring an additional 7,800 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in TG Therapeutics by 21.4% during the fourth quarter. Russell Investments Group Ltd. now owns 30,653 shares of the biopharmaceutical company’s stock worth $363,000 after purchasing an additional 5,401 shares in the last quarter. Hedge funds and other institutional investors own 68.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TGTX. Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 price objective on shares of TG Therapeutics in a research note on Monday, April 17th. StockNews.com cut TG Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective (up from $24.00) on shares of TG Therapeutics in a research report on Friday, April 14th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, TG Therapeutics presently has an average rating of “Hold” and an average price target of $18.67.

TG Therapeutics Stock Up 0.6 %

TGTX opened at $27.20 on Tuesday. TG Therapeutics, Inc. has a 12 month low of $3.48 and a 12 month high of $35.67. The business has a 50-day moving average of $23.76 and a two-hundred day moving average of $16.53. The company has a debt-to-equity ratio of 3.52, a current ratio of 2.93 and a quick ratio of 2.50. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of -22.11 and a beta of 2.08.

TG Therapeutics (NASDAQ:TGTX – Get Rating) last released its earnings results on Monday, May 1st. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.08. The firm had revenue of $7.80 million during the quarter, compared to the consensus estimate of $3.38 million. TG Therapeutics had a negative net margin of 1,966.56% and a negative return on equity of 213.67%. TG Therapeutics’s revenue was up 290.0% on a year-over-year basis. On average, research analysts expect that TG Therapeutics, Inc. will post -1 earnings per share for the current year.

TG Therapeutics Company Profile

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TG Therapeutics, Inc engages in the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Its product pipeline includes TG-1501, TG-1701, Ublituximab, and Umbralisib. The company was founded by Michael Sean Weiss and Laurence H. Shaw on May 18, 1993 and is headquartered in Morrisville, NC.