Rhenman & Partners Asset Management AB Increases Stock Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

Rhenman & Partners Asset Management AB lifted its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 53.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 262,500 shares of the biopharmaceutical company's stock after acquiring an additional 91,000 shares during the quarter. Rhenman & Partners Asset Management AB owned 0.17% of TG Therapeutics worth $7,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Blue Trust Inc. increased its holdings in TG Therapeutics by 24.5% during the 4th quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 371 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of TG Therapeutics by 512.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,905 shares of the biopharmaceutical company's stock worth $60,000 after buying an additional 1,594 shares during the period. Jones Financial Companies Lllp raised its holdings in TG Therapeutics by 460.7% in the fourth quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company's stock valued at $64,000 after acquiring an additional 1,737 shares in the last quarter. Synergy Asset Management LLC purchased a new position in TG Therapeutics in the fourth quarter worth approximately $75,000. Finally, GAMMA Investing LLC increased its position in shares of TG Therapeutics by 562.4% in the 4th quarter. GAMMA Investing LLC now owns 2,557 shares of the biopharmaceutical company's stock valued at $77,000 after purchasing an additional 2,171 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research firms have recently issued reports on TGTX. HC Wainwright reaffirmed a "buy" rating and set a $55.00 price objective on shares of TG Therapeutics in a research report on Tuesday, March 4th. StockNews.com raised TG Therapeutics from a "sell" rating to a "hold" rating in a report 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.com, TG Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $40.67.

TG Therapeutics Stock Performance

Shares of NASDAQ TGTX traded down $0.92 during trading hours on Thursday, reaching $34.93. The stock had a trading volume of 1,199,118 shares, compared to its average volume of 3,102,516. The firm has a 50-day moving average of $35.59 and a 200-day moving average of $31.20. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of -348.79 and a beta of 2.14. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. TG Therapeutics, Inc. has a fifty-two week low of $12.93 and a fifty-two week high of $43.32.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The business had revenue of $108.19 million for the quarter, compared to analyst estimates of $100.67 million. Equities research analysts predict that TG Therapeutics, Inc. will post 0.08 earnings per share for the current 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.