Eversept Partners LP increased its holdings in shares of TG Therapeutics Inc (NASDAQ:TGTX) by 18.0% in the second quarter, Holdings Channel.com reports. The fund owned 883,501 shares of the biopharmaceutical company’s stock after buying an additional 134,907 shares during the quarter. TG Therapeutics comprises about 2.2% of Eversept Partners LP’s portfolio, making the stock its 12th largest holding. Eversept Partners LP’s holdings in TG Therapeutics were worth $7,642,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Aperio Group LLC bought a new stake in shares of TG Therapeutics during the 2nd quarter worth approximately $32,000. Bank of Montreal Can increased its holdings in TG Therapeutics by 1,119.0% during the 2nd quarter. Bank of Montreal Can now owns 8,143 shares of the biopharmaceutical company’s stock worth $70,000 after purchasing an additional 7,475 shares during the period. Tower Research Capital LLC TRC purchased a new position in TG Therapeutics during the 2nd quarter worth $98,000. BNP Paribas Arbitrage SA increased its holdings in TG Therapeutics by 239.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,117 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 9,255 shares during the period. Finally, Cutter & CO Brokerage Inc. purchased a new position in TG Therapeutics during the 2nd quarter worth $176,000. 52.96% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Sean A. Power sold 17,654 shares of TG Therapeutics stock in a transaction on Monday, July 1st. The stock was sold at an average price of $8.47, for a total value of $149,529.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael S. Weiss purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was bought at an average price of $7.04 per share, for a total transaction of $352,000.00. The disclosure for this purchase can be found here. Company insiders own 14.20% of the company’s stock.
Several research analysts have commented on TGTX shares. BidaskClub downgraded TG Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. B. Riley restated a “buy” rating on shares of TG Therapeutics in a report on Tuesday, June 11th. ValuEngine upgraded TG Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. TG Therapeutics has a consensus rating of “Buy” and a consensus target price of $14.07.
Shares of NASDAQ:TGTX traded down $0.13 on Friday, reaching $6.66. The company had a trading volume of 6,398 shares, compared to its average volume of 997,734. TG Therapeutics Inc has a 52-week low of $3.32 and a 52-week high of $11.25. The firm’s 50 day simple moving average is $6.73 and its 200-day simple moving average is $7.27. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.77.
TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.01. TG Therapeutics had a negative return on equity of 496.99% and a negative net margin of 99,488.13%. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.04 million. As a group, equities research analysts predict that TG Therapeutics Inc will post -1.52 earnings per share for the current fiscal year.
TG Therapeutics Profile
TG Therapeutics, Inc, a biopharmaceutical company, engages in developing and delivering medicines for patients with chronic lymphocytic leukemia (CLL), non-Hodgkin's Lymphoma (NHL), and Multiple Sclerosis (MS). It develops a robust B-cell directed research and development platform for identification of key B-cell pathways of interest and rapid clinical testing.
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