Los Angeles Capital Management LLC Decreases Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Posted by Defense World Staff on Aug 6th, 2023

Los Angeles Capital Management LLC decreased its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX – Free Report) by 61.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,257 shares of the biopharmaceutical company’s stock after selling 98,053 shares during the quarter. Los Angeles Capital Management LLC’s holdings in TG Therapeutics were worth $921,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. LPL Financial LLC lifted its stake in shares of TG Therapeutics by 41.9% in the fourth quarter. LPL Financial LLC now owns 38,855 shares of the biopharmaceutical company’s stock worth $460,000 after acquiring an additional 11,480 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of TG Therapeutics in the first quarter worth about $3,468,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of TG Therapeutics by 7.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,026 shares of the biopharmaceutical company’s stock worth $686,000 after acquiring an additional 4,099 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in TG Therapeutics by 109.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 68,800 shares of the biopharmaceutical company’s stock valued at $814,000 after buying an additional 35,900 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in TG Therapeutics during the first quarter valued at approximately $2,066,000. Institutional investors and hedge funds own 62.66% of the company’s stock.

TG Therapeutics Stock Down 4.4 %

NASDAQ:TGTX opened at $10.71 on Friday. The firm has a market capitalization of $1.60 billion, a PE ratio of -8.43 and a beta of 2.02. The stock has a 50 day moving average of $22.98 and a 200-day moving average of $21.10. TG Therapeutics, Inc. has a 52 week low of $4.86 and a 52 week high of $35.67. The company has a current ratio of 2.93, a quick ratio of 2.50 and a debt-to-equity ratio of 3.52.

TG Therapeutics (NASDAQ:TGTX – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). TG Therapeutics had a negative return on equity of 282.55% and a negative net margin of 730.34%. The business had revenue of $16.07 million during the quarter, compared to the consensus estimate of $17.39 million. During the same period last year, the company earned ($0.30) earnings per share. The business’s quarterly revenue was up 2606.1% compared to the same quarter last year. Analysts predict that TG Therapeutics, Inc. will post -0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TGTX. Cantor Fitzgerald restated an “overweight” rating and set a $24.00 price objective on shares of TG Therapeutics in a research note on Monday, April 17th. B. Riley restated a “buy” rating and set a $32.00 price objective (down previously from $42.00) on shares of TG Therapeutics in a research note on Tuesday, August 1st. HC Wainwright upped their price objective on TG Therapeutics from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. The Goldman Sachs Group upgraded TG Therapeutics from a “sell” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $12.00 in a research note on Wednesday. Finally, StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, TG Therapeutics presently has a consensus rating of “Hold” and an average price target of $23.33.

Insider Buying and Selling

In related news, CFO Sean A. Power sold 73,647 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $26.70, for a total value of $1,966,374.90. Following the completion of the transaction, the chief financial officer now directly owns 654,836 shares of the company’s stock, valued at approximately $17,484,121.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other TG Therapeutics news, Director Sagar Lonial sold 34,854 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $23.37, for a total transaction of $814,537.98. Following the completion of the transaction, the director now directly owns 93,878 shares of the company’s stock, valued at approximately $2,193,928.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sean A. Power sold 73,647 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $26.70, for a total value of $1,966,374.90. Following the transaction, the chief financial officer now directly owns 654,836 shares of the company’s stock, valued at $17,484,121.20. The disclosure for this sale can be found here. Corporate insiders own 9.20% of the company’s stock.

TG Therapeutics Profile

(Free Report)

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell diseases. 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.