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

Assenagon Asset Management S.A. cut its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 39.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,080 shares of the biopharmaceutical company's stock after selling 67,154 shares during the quarter. 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. State Street Corp grew its stake in shares of TG Therapeutics by 35.8% in the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company's stock worth $212,712,000 after purchasing an additional 2,398,015 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of TG Therapeutics in the 2nd quarter valued at about $36,501,000. Charles Schwab Investment Management Inc. increased its stake in shares of TG Therapeutics by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company's stock valued at $27,708,000 after buying an additional 7,939 shares during the period. Principal Financial Group Inc. raised its position in shares of TG Therapeutics by 1,549.4% during 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. lifted its stake in shares of TG Therapeutics by 60.0% in the third 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 during the period. Institutional investors own 58.58% of the company's stock.

Insider Buying and Selling at TG Therapeutics

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the sale, the director now owns 100,195 shares in the company, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sean A. Power sold 10,021 shares of TG Therapeutics stock in a transaction that occurred 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 represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,358 shares of company stock worth $781,497. Insiders own 10.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TGTX shares. TD Cowen initiated coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They set a "buy" rating and a $50.00 target price for the company. StockNews.com upgraded shares of TG Therapeutics from a "sell" rating to a "hold" rating in a report on Tuesday, January 7th. The Goldman Sachs Group increased 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. JPMorgan Chase & Co. boosted 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 reaffirmed a "buy" rating and set a $55.00 target price 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $40.67.

TG Therapeutics Stock Down 2.4 %

Shares of TGTX traded down $0.72 during trading hours on Wednesday, hitting $29.14. The stock had a trading volume of 2,084,371 shares, compared to its average volume of 2,892,659. The firm has a 50 day simple moving average of $31.69 and a 200-day simple moving average of $25.99. 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 current ratio of 4.59 and a quick ratio of 3.91. The firm has a market capitalization of $4.54 billion, a P/E ratio of -291.37 and a beta of 2.24.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). The business had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm's quarterly revenue was down 49.4% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. Sell-side analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal 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.