268,875 Shares in TG Therapeutics, Inc. $TGTX Acquired by ACT Capital Management LLC

ACT Capital Management LLC acquired a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 268,875 shares of the biopharmaceutical company’s stock, valued at approximately $8,015,000. TG Therapeutics accounts for approximately 6.5% of ACT Capital Management LLC’s investment portfolio, making the stock its 5th largest position.

A number of other hedge funds have also recently made changes to their positions in TGTX. Royal Bank of Canada boosted its position in shares of TG Therapeutics by 16.4% during the 1st quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock worth $2,985,000 after purchasing an additional 10,660 shares during the period. NewEdge Advisors LLC boosted its position in TG Therapeutics by 9.6% in the 1st quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 665 shares during the period. Goldman Sachs Group Inc. boosted its position in TG Therapeutics by 21.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock valued at $75,683,000 after buying an additional 345,059 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in TG Therapeutics by 5.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company’s stock valued at $11,319,000 after buying an additional 14,689 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in TG Therapeutics by 86.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 573 shares during the period. Hedge funds and other institutional investors own 58.58% of the company’s stock.

Analysts Set New Price Targets

TGTX has been the subject of several recent research reports. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of TG Therapeutics in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.50.

TG Therapeutics Price Performance

Shares of TGTX opened at $51.50 on Thursday. TG Therapeutics, Inc. has a twelve month low of $25.28 and a twelve month high of $53.98. The firm’s fifty day simple moving average is $39.41 and its 200-day simple moving average is $33.49. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 18.01 and a beta of 1.68. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The firm had revenue of $204.92 million during the quarter, compared to analyst estimates of $200.33 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. TG Therapeutics’s revenue for the quarter was up 69.5% compared to the same quarter last year. Equities analysts forecast that TG Therapeutics, Inc. will post 1.51 EPS for the current fiscal year.

TG Therapeutics Company 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.