Penserra Capital Management LLC Boosts Stock Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Penserra Capital Management LLC raised its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 293.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 98,144 shares of the biopharmaceutical company’s stock after buying an additional 73,211 shares during the quarter. Penserra Capital Management LLC’s holdings in TG Therapeutics were worth $2,295,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TGTX. Opaleye Management Inc. lifted its position in TG Therapeutics by 2.9% during the first quarter. Opaleye Management Inc. now owns 2,280,000 shares of the biopharmaceutical company’s stock valued at $34,679,000 after acquiring an additional 65,000 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of TG Therapeutics during the second quarter worth $36,501,000. Hood River Capital Management LLC lifted its holdings in shares of TG Therapeutics by 6.7% during the 2nd quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock valued at $27,982,000 after purchasing an additional 98,892 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of TG Therapeutics by 0.7% in the 3rd 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 in the last quarter. Finally, Principal Financial Group Inc. grew its stake in TG Therapeutics by 1,549.4% during the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after buying an additional 725,371 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors.

Insider Transactions at TG Therapeutics

In related news, Director Sagar Lonial sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the transaction, the director now directly owns 100,195 shares in the company, valued at $3,049,935.80. The trade was a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.50% of the company’s stock.

TG Therapeutics Stock Performance

Shares of NASDAQ TGTX opened at $34.61 on Tuesday. The company has a 50 day simple moving average of $25.81 and a two-hundred day simple moving average of $21.83. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of -346.07 and a beta of 2.19. 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, Inc. has a 12 month low of $12.30 and a 12 month high of $36.84.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. increased their price target on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen assumed coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. B. Riley lifted their price objective on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, HC Wainwright upped their target price on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, TG Therapeutics presently has an average rating of “Moderate Buy” and a consensus 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.