TG Therapeutics, Inc. $TGTX Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB reduced its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 21.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,250 shares of the biopharmaceutical company’s stock after selling 19,750 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in TG Therapeutics were worth $2,184,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Summit Financial LLC acquired a new stake in TG Therapeutics in the 4th quarter valued at approximately $2,687,000. HRT Financial LP increased its position in TG Therapeutics by 80.4% in the 4th quarter. HRT Financial LP now owns 195,359 shares of the biopharmaceutical company’s stock valued at $5,823,000 after acquiring an additional 87,078 shares during the period. Cibc World Markets Corp acquired a new stake in TG Therapeutics in the 4th quarter valued at approximately $286,000. Dimensional Fund Advisors LP increased its position in TG Therapeutics by 1,725.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 472,787 shares of the biopharmaceutical company’s stock valued at $14,094,000 after acquiring an additional 446,884 shares during the period. Finally, New York State Common Retirement Fund increased its position in TG Therapeutics by 4.4% in the 4th quarter. New York State Common Retirement Fund now owns 374,574 shares of the biopharmaceutical company’s stock valued at $11,166,000 after acquiring an additional 15,757 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Stock Up 3.1%

Shares of TGTX stock opened at $49.52 on Friday. TG Therapeutics, Inc. has a 1 year low of $25.28 and a 1 year high of $50.41. The stock has a market cap of $7.58 billion, a PE ratio of 17.31 and a beta of 1.68. The business’s fifty day moving average is $38.38 and its 200-day moving average is $33.11. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.11). TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The firm had revenue of $204.92 million for the quarter, compared to analyst estimates of $200.33 million. During the same quarter last year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 69.5% compared to the same quarter last year. Equities analysts expect that TG Therapeutics, Inc. will post 1.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of TG Therapeutics in a research report on Wednesday, May 27th. Finally, Wall Street Zen cut TG Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, TG Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.50.

About TG Therapeutics

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.