Assenagon Asset Management S.A. Sells 318,709 Shares of TG Therapeutics, Inc. (NASDAQ:TGTX)

Assenagon Asset Management S.A. trimmed its position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 65.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,234 shares of the biopharmaceutical company's stock after selling 318,709 shares during the period. Assenagon Asset Management S.A. owned approximately 0.11% of TG Therapeutics worth $3,982,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of TG Therapeutics during the second quarter valued at approximately $36,501,000. Bank of New York Mellon Corp increased its stake in TG Therapeutics by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 503,645 shares of the biopharmaceutical company's stock valued at $8,960,000 after purchasing an additional 59,523 shares in the last quarter. Cetera Advisors LLC acquired a new position in TG Therapeutics during the first quarter worth $622,000. Russell Investments Group Ltd. lifted its stake in shares of TG Therapeutics by 133.5% in the first quarter. Russell Investments Group Ltd. now owns 52,339 shares of the biopharmaceutical company's stock valued at $796,000 after buying an additional 29,923 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of TG Therapeutics by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,603 shares of the biopharmaceutical company's stock valued at $1,303,000 after buying an additional 5,015 shares during the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on TGTX. HC Wainwright reaffirmed a "buy" rating and issued a $49.00 price target on shares of TG Therapeutics in a research report on Wednesday, September 18th. B. Riley raised their target price on TG Therapeutics from $29.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price target on TG Therapeutics from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Finally, TD Cowen assumed coverage on TG Therapeutics in a research note on Tuesday. They set a "buy" rating and a $50.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.43.

TG Therapeutics Stock Performance

NASDAQ:TGTX traded down $0.58 during trading on Wednesday, reaching $25.13. The company's stock had a trading volume of 2,391,149 shares, compared to its average volume of 3,615,630. TG Therapeutics, Inc. has a 12 month low of $7.17 and a 12 month high of $26.41. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 109.26 and a beta of 2.21. The firm has a 50 day moving average of $23.44 and a 200-day moving average of $19.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.83 and a current ratio of 3.58.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. The company had revenue of $73.47 million during the quarter, compared to analyst estimates of $65.92 million. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The firm's revenue for the quarter was up 357.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.34) earnings per share. Research analysts expect that TG Therapeutics, Inc. will post 0.13 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.