PDT Partners LLC Acquires Shares of 41,585 TG Therapeutics, Inc. $TGTX

PDT Partners LLC bought a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 41,585 shares of the biopharmaceutical company’s stock, valued at approximately $2,285,000.

A number of other large investors also recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of TG Therapeutics by 71.7% during the first quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock valued at $48,544,000 after acquiring an additional 610,195 shares during the period. Deutsche Bank AG bought a new position in TG Therapeutics in the second quarter valued at about $12,937,000. Hsbc Holdings PLC increased its position in TG Therapeutics by 228.7% in the fourth quarter. Hsbc Holdings PLC now owns 146,087 shares of the biopharmaceutical company’s stock worth $4,374,000 after purchasing an additional 101,646 shares during the period. Gibbs Wealth Management increased its position in TG Therapeutics by 75.3% in the first quarter. Gibbs Wealth Management now owns 28,018 shares of the biopharmaceutical company’s stock worth $931,000 after purchasing an additional 12,032 shares during the period. Finally, Vanguard Group Inc. raised its holdings in TG Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock worth $472,220,000 after purchasing an additional 319,703 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TGTX has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. B. Riley Financial increased their price objective on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a “buy” rating in a report on Monday, July 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $83.00 price objective on shares of TG Therapeutics in a research note on Monday, June 22nd. Finally, Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.

TG Therapeutics Trading Down 0.7%

NASDAQ:TGTX opened at $55.03 on Thursday. The company has a current ratio of 4.27, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. TG Therapeutics, Inc. has a 1-year low of $26.76 and a 1-year high of $59.30. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 2.37 and a beta of 1.62. The business’s 50-day moving average price is $53.31 and its two-hundred day moving average price is $41.55.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). The company had revenue of $240.34 million for the quarter, compared to analyst estimates of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.TG Therapeutics’s quarterly revenue was up 70.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, equities analysts expect that TG Therapeutics, Inc. will post 0.92 earnings per share for the current year.

TG Therapeutics Profile

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.