JPMorgan Chase & Co. Buys 270,286 Shares of TG Therapeutics, Inc. (NASDAQ:TGTX)

JPMorgan Chase & Co. grew its position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 60.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 720,798 shares of the biopharmaceutical company's stock after purchasing an additional 270,286 shares during the period. JPMorgan Chase & Co. owned about 0.46% of TG Therapeutics worth $16,859,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. raised its holdings in TG Therapeutics by 58.9% during the third quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 485 shares in the last quarter. Blue Trust Inc. raised its stake in shares of TG Therapeutics by 127.3% in the 3rd quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company's stock valued at $35,000 after acquiring an additional 849 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in TG Therapeutics in the 2nd quarter worth approximately $35,000. ORG Wealth Partners LLC bought a new stake in TG Therapeutics during the third quarter worth approximately $53,000. Finally, Values First Advisors Inc. acquired a new position in TG Therapeutics during the third quarter valued at approximately $58,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on TG Therapeutics from $30.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. HC Wainwright lifted their price target on TG Therapeutics from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. StockNews.com raised TG Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday. The Goldman Sachs Group boosted their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Finally, TD Cowen started coverage on shares of TG Therapeutics in a report on Tuesday, October 29th. They issued a "buy" rating and a $50.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.67.

TG Therapeutics Stock Performance

TGTX stock traded up $0.11 during midday trading on Friday, hitting $28.88. The stock had a trading volume of 2,848,036 shares, compared to its average volume of 2,846,704. TG Therapeutics, Inc. has a 52 week low of $12.84 and a 52 week high of $36.84. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The stock has a 50-day simple moving average of $31.49 and a 200 day simple moving average of $25.39. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of -288.77 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 EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). The business had revenue of $83.90 million for the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. TG Therapeutics's revenue was down 49.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 earnings per share. As a group, equities research analysts anticipate that TG Therapeutics, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling at TG Therapeutics

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the business's 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 transaction, the director now directly owns 100,195 shares in the company, valued at $3,049,935.80. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sean A. Power sold 11,337 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $30.29, for a total transaction of $343,397.73. Following the sale, the chief financial officer now directly owns 670,632 shares in the company, valued at $20,313,443.28. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,358 shares of company stock valued at $781,497. 10.50% of the stock is currently owned by corporate insiders.

TG Therapeutics Company 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.