Rhenman & Partners Asset Management AB Sells 62,500 Shares of TG Therapeutics, Inc. $TGTX

Rhenman & Partners Asset Management AB trimmed its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 35.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 115,000 shares of the biopharmaceutical company’s stock after selling 62,500 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.07% of TG Therapeutics worth $4,139,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TGTX. CWM LLC lifted its position in TG Therapeutics by 16.2% during the first quarter. CWM LLC now owns 2,085 shares of the biopharmaceutical company’s stock valued at $82,000 after acquiring an additional 290 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of TG Therapeutics by 1.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 40,212 shares of the biopharmaceutical company’s stock valued at $1,447,000 after acquiring an additional 417 shares during the period. Kingswood Wealth Advisors LLC raised its stake in TG Therapeutics by 6.4% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 8,284 shares of the biopharmaceutical company’s stock worth $298,000 after acquiring an additional 500 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in TG Therapeutics by 0.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 63,400 shares of the biopharmaceutical company’s stock worth $2,282,000 after acquiring an additional 500 shares during the period. Finally, New York State Teachers Retirement System grew its stake in TG Therapeutics by 0.4% during the 2nd quarter. New York State Teachers Retirement System now owns 120,864 shares of the biopharmaceutical company’s stock valued at $4,350,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TGTX. JPMorgan Chase & Co. raised their price objective on TG Therapeutics from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. HC Wainwright began coverage on shares of TG Therapeutics in a report on Monday, October 6th. They issued a “buy” rating and a $60.00 price target on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a research report on Wednesday, November 19th. B. Riley raised shares of TG Therapeutics to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen upgraded shares of TG Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

TG Therapeutics Stock Up 3.0%

TGTX opened at $32.98 on Wednesday. The company has a fifty day moving average of $33.81 and a two-hundred day moving average of $33.92. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.96 and a current ratio of 3.86. TG Therapeutics, Inc. has a fifty-two week low of $25.28 and a fifty-two week high of $46.48. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 89.14 and a beta of 1.95.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $0.24 by $2.19. The firm had revenue of $161.71 million during the quarter, compared to analyst estimates of $152.12 million. TG Therapeutics had a return on equity of 26.05% and a net margin of 13.31%.TG Therapeutics’s revenue for the quarter was up 92.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 EPS. TG Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Yann Echelard sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $32.57, for a total transaction of $162,850.00. Following the completion of the transaction, the director directly owned 223,816 shares of the company’s stock, valued at $7,289,687.12. This represents a 2.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sagar Lonial sold 20,852 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.24, for a total value of $672,268.48. Following the transaction, the director owned 94,061 shares in the company, valued at $3,032,526.64. This trade represents a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.64% of the stock is owned by insiders.

TG Therapeutics Company 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.