SummitTX Capital L.P. Cuts Stock Holdings in TG Therapeutics, Inc. $TGTX

SummitTX Capital L.P. trimmed its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 76.3% during the 1st quarter, Holdings Channel reports. The firm owned 10,217 shares of the biopharmaceutical company’s stock after selling 32,875 shares during the quarter. SummitTX Capital L.P.’s holdings in TG Therapeutics were worth $339,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Danske Bank A S purchased a new stake in TG Therapeutics in the third quarter valued at approximately $25,000. Hantz Financial Services Inc. grew its stake in TG Therapeutics by 82.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 560 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in TG Therapeutics by 86.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 573 shares in the last quarter. Truvestments Capital LLC increased its holdings in shares of TG Therapeutics by 172.4% in the 4th quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 1,026 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of TG Therapeutics in the 4th quarter worth $52,000. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Trading Down 2.8%

TGTX stock opened at $52.03 on Friday. The company has a market capitalization of $7.96 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.60. TG Therapeutics, Inc. has a one year low of $25.28 and a one year high of $59.30. The company’s 50 day moving average price is $50.48 and its two-hundred day moving average price is $38.86. 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 announced its quarterly earnings data 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). TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The business had revenue of $204.92 million during the quarter, compared to the consensus estimate of $200.33 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The company’s revenue was up 69.5% compared to the same quarter last year. As a group, analysts predict that TG Therapeutics, Inc. will post 1.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TGTX has been the topic of several research reports. HC Wainwright raised their price objective on shares of TG Therapeutics from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TG Therapeutics in a research report on Wednesday. Bank of America increased their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a research note on Tuesday, July 7th. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a research note on Monday, June 22nd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $58.50.

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.