Magnetar Financial LLC Decreases Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Magnetar Financial LLC trimmed its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 29.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,753 shares of the biopharmaceutical company’s stock after selling 15,396 shares during the quarter. Magnetar Financial LLC’s holdings in TG Therapeutics were worth $654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of TG Therapeutics in the 4th quarter valued at about $18,362,000. UBS Group AG grew its position in shares of TG Therapeutics by 67.2% during the fourth quarter. UBS Group AG now owns 564,836 shares of the biopharmaceutical company’s stock worth $9,647,000 after acquiring an additional 226,971 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of TG Therapeutics by 231.6% during the fourth quarter. Corient Private Wealth LLC now owns 93,381 shares of the biopharmaceutical company’s stock worth $1,595,000 after acquiring an additional 65,220 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of TG Therapeutics by 87.6% in the 4th quarter. Franklin Resources Inc. now owns 64,926 shares of the biopharmaceutical company’s stock valued at $1,109,000 after acquiring an additional 30,322 shares during the period. Finally, Pingora Partners LLC acquired a new stake in TG Therapeutics during the 4th quarter worth $27,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $23.31 on Wednesday. The company has a current ratio of 3.58, a quick ratio of 2.83 and a debt-to-equity ratio of 0.58. TG Therapeutics, Inc. has a 12-month low of $6.46 and a 12-month high of $26.41. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 101.35 and a beta of 2.21. The stock has a 50 day simple moving average of $22.14 and a 200-day simple moving average of $18.43.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The company had revenue of $73.47 million during the quarter, compared to the consensus estimate of $65.92 million. During the same quarter last year, the company earned ($0.34) earnings per share. TG Therapeutics’s quarterly revenue was up 357.0% compared to the same quarter last year. On average, equities analysts forecast that TG Therapeutics, Inc. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. HC Wainwright restated a “buy” rating and issued a $49.00 price objective on shares of TG Therapeutics in a research note on Wednesday, September 18th. B. Riley lifted their target price on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group upped their price target on TG Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.83.

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.