Exchange Traded Concepts LLC Buys New Shares in TG Therapeutics, Inc. $TGTX

Exchange Traded Concepts LLC purchased a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the 3rd quarter, Holdings Channel reports. The fund purchased 25,063 shares of the biopharmaceutical company’s stock, valued at approximately $905,000.

A number of other large investors also recently modified their holdings of the business. Woodline Partners LP bought a new position in shares of TG Therapeutics in the 1st quarter valued at about $21,021,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in TG Therapeutics by 1,221.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 422,078 shares of the biopharmaceutical company’s stock worth $15,191,000 after acquiring an additional 390,137 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in TG Therapeutics by 21.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock valued at $75,683,000 after purchasing an additional 345,059 shares during the last quarter. Marex Group plc acquired a new position in TG Therapeutics during the second quarter valued at approximately $10,017,000. Finally, Jump Financial LLC grew its stake in shares of TG Therapeutics by 551.8% in the second quarter. Jump Financial LLC now owns 320,022 shares of the biopharmaceutical company’s stock valued at $11,518,000 after buying an additional 270,922 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Stock Performance

NASDAQ TGTX opened at $30.77 on Monday. The firm has a 50-day moving average of $32.08 and a 200-day moving average of $33.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.89 and a current ratio of 3.82. The stock has a market cap of $4.89 billion, a PE ratio of 11.07 and a beta of 2.01. TG Therapeutics, Inc. has a 52-week low of $25.28 and a 52-week high of $46.48.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $2.19. The business had revenue of $161.71 million for the quarter, compared to analyst estimates of $152.12 million. TG Therapeutics had a net margin of 84.13% and a return on equity of 133.24%. TG Therapeutics’s quarterly revenue was up 92.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 EPS. On average, sell-side analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. B. Riley raised shares of TG Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 4th. HC Wainwright began coverage on shares of TG Therapeutics in a research note on Monday, October 6th. They set a “buy” rating and a $60.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a report on Monday, December 22nd. JPMorgan Chase & Co. lifted their price target on TG Therapeutics from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, Wall Street Zen raised TG Therapeutics from a “hold” rating to a “buy” rating in a research report on Sunday, December 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.25.

Insider Activity at TG Therapeutics

In other news, Director Yann Echelard sold 5,000 shares of the 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 transaction, the director owned 223,816 shares in the company, valued at approximately $7,289,687.12. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.64% of the company’s stock.

TG Therapeutics Profile

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.