Van ECK Associates Corp Invests $4.22 Million in TG Therapeutics, Inc. (NASDAQ:TGTX)

Van ECK Associates Corp bought a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 140,154 shares of the biopharmaceutical company’s stock, valued at approximately $4,219,000. Van ECK Associates Corp owned 0.09% of TG Therapeutics as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TGTX. Empowered Funds LLC lifted its position in shares of TG Therapeutics by 6.1% during the 4th quarter. Empowered Funds LLC now owns 49,267 shares of the biopharmaceutical company’s stock worth $1,483,000 after purchasing an additional 2,836 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in TG Therapeutics during the 4th quarter valued at approximately $1,404,000. Bleakley Financial Group LLC purchased a new position in TG Therapeutics in the 4th quarter valued at $245,000. Choreo LLC purchased a new position in TG Therapeutics during the fourth quarter worth about $247,000. Finally, Stratos Wealth Advisors LLC acquired a new position in TG Therapeutics during the fourth quarter worth $241,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

Insider Buying and Selling

In other news, CFO Sean A. Power sold 10,021 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $28.53, for a total transaction of $285,899.13. Following the completion of the transaction, the chief financial officer now owns 660,611 shares in the company, valued at approximately $18,847,231.83. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is currently owned by company insiders.

TG Therapeutics Price Performance

TGTX opened at $31.01 on Thursday. TG Therapeutics, Inc. has a 1-year low of $12.84 and a 1-year high of $36.84. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The company has a market capitalization of $4.83 billion, a P/E ratio of -310.07 and a beta of 2.26. The company has a 50-day moving average of $31.09 and a 200-day moving average of $27.61.

Analyst Upgrades and Downgrades

TGTX has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. StockNews.com lowered TG Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. TD Cowen started coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of TG Therapeutics in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics 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.