Assenagon Asset Management S.A. Cuts Stock Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

Assenagon Asset Management S.A. reduced its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 39.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,080 shares of the biopharmaceutical company’s stock after selling 67,154 shares during the period. Assenagon Asset Management S.A. owned approximately 0.07% of TG Therapeutics worth $3,103,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new stake in TG Therapeutics in the 3rd quarter valued at about $759,000. Segall Bryant & Hamill LLC purchased a new stake in shares of TG Therapeutics during the third quarter worth approximately $1,225,000. Barclays PLC raised its holdings in TG Therapeutics by 83.9% in the third quarter. Barclays PLC now owns 347,057 shares of the biopharmaceutical company’s stock valued at $8,117,000 after acquiring an additional 158,323 shares in the last quarter. Principal Financial Group Inc. lifted its stake in TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after acquiring an additional 725,371 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in TG Therapeutics by 60.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 720,798 shares of the biopharmaceutical company’s stock worth $16,859,000 after acquiring an additional 270,286 shares in the last quarter. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TGTX shares. JPMorgan Chase & Co. lifted their price objective on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. The Goldman Sachs Group lifted their price target on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. TD Cowen initiated coverage on TG Therapeutics in a report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective on the stock. StockNews.com upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of TG Therapeutics in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, TG Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $40.67.

Insider Transactions at TG Therapeutics

In other TG Therapeutics 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 transaction of $152,200.00. Following the sale, the director now directly owns 100,195 shares in the company, valued at approximately $3,049,935.80. The trade was a 4.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean A. Power sold 10,021 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $28.53, for a total transaction of $285,899.13. Following the transaction, the chief financial officer now directly owns 660,611 shares in the company, valued at approximately $18,847,231.83. This trade represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,358 shares of company stock worth $781,497. Company insiders own 10.50% of the company’s stock.

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $29.86 on Wednesday. TG Therapeutics, Inc. has a 52-week low of $12.84 and a 52-week high of $36.84. The stock’s 50-day moving average price is $31.69 and its 200 day moving average price is $25.99. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $4.65 billion, a PE ratio of -298.57 and a beta of 2.24.

TG Therapeutics (NASDAQ:TGTX) last released 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). TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The company had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. During the same quarter last year, the company earned $0.73 EPS. TG Therapeutics’s revenue for the quarter was down 49.4% compared to the same quarter last year. As a group, equities research analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

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.