Eventide Asset Management LLC Lowers Stock Holdings in TG Therapeutics, Inc. $TGTX

Eventide Asset Management LLC reduced its position in TG Therapeutics, Inc. (NASDAQ:TGTX) by 24.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 716,414 shares of the biopharmaceutical company’s stock after selling 238,117 shares during the period. Eventide Asset Management LLC’s holdings in TG Therapeutics were worth $21,356,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in TG Therapeutics by 1.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock worth $1,135,000 after acquiring an additional 441 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in TG Therapeutics by 16.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 454 shares during the last quarter. Bessemer Group Inc. raised its holdings in TG Therapeutics by 117.1% in the 3rd quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 486 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in TG Therapeutics by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,062 shares of the biopharmaceutical company’s stock worth $926,000 after acquiring an additional 500 shares during the last quarter. Finally, Lido Advisors LLC raised its holdings in TG Therapeutics by 3.9% in the 3rd quarter. Lido Advisors LLC now owns 14,276 shares of the biopharmaceutical company’s stock worth $516,000 after acquiring an additional 541 shares during the last quarter. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TGTX has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. HC Wainwright restated a “buy” rating and issued a $70.00 price objective on shares of TG Therapeutics in a report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.50.

TG Therapeutics Price Performance

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

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

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.