KLP Kapitalforvaltning AS Takes $924,000 Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

KLP Kapitalforvaltning AS purchased a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,700 shares of the biopharmaceutical company's stock, valued at approximately $924,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp raised its stake in TG Therapeutics by 35.8% during the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company's stock worth $212,712,000 after acquiring an additional 2,398,015 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of TG Therapeutics by 7.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,269,513 shares of the biopharmaceutical company's stock valued at $38,212,000 after purchasing an additional 84,904 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of TG Therapeutics by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 923,488 shares of the biopharmaceutical company's stock valued at $27,797,000 after purchasing an additional 87,679 shares during the period. Principal Financial Group Inc. grew its stake in TG Therapeutics by 7.5% during the 4th quarter. Principal Financial Group Inc. now owns 830,184 shares of the biopharmaceutical company's stock worth $24,989,000 after buying an additional 57,996 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in TG Therapeutics by 60.0% during the third quarter. JPMorgan Chase & Co. now owns 720,798 shares of the biopharmaceutical company's stock worth $16,859,000 after buying an additional 270,286 shares during the period. 58.58% of the stock is owned by institutional investors and hedge funds.

Remove Ads

TG Therapeutics Stock Performance

Shares of NASDAQ TGTX traded down $1.99 during mid-day trading on Friday, hitting $37.35. 3,137,631 shares of the company were exchanged, compared to its average volume of 3,083,830. The stock has a 50 day simple moving average of $35.27 and a 200-day simple moving average of $30.85. TG Therapeutics, Inc. has a 1-year low of $12.93 and a 1-year high of $43.32. 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 firm has a market cap of $5.87 billion, a price-to-earnings ratio of -373.46 and a beta of 2.13.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. The company had revenue of $108.19 million during the quarter, compared to analysts' expectations of $100.67 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. On average, sell-side analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insider Transactions at TG Therapeutics

In related news, CFO Sean A. Power sold 10,021 shares of TG Therapeutics 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 completion of the transaction, the chief financial officer now directly owns 660,611 shares of the company's stock, valued at approximately $18,847,231.83. The trade was a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 10.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TGTX shares. HC Wainwright reissued a "buy" rating and issued a $55.00 price objective on shares of TG Therapeutics in a report on Tuesday, March 4th. StockNews.com upgraded shares of TG Therapeutics from a "sell" rating to a "hold" rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $40.67.

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.