Quest Partners LLC Makes New $246,000 Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

Quest Partners LLC acquired a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,529 shares of the biopharmaceutical company’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TGTX. Marshall Wace LLP bought a new stake in TG Therapeutics in the 2nd quarter valued at $36,501,000. Principal Financial Group Inc. boosted its position in shares of TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after acquiring an additional 725,371 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of TG Therapeutics in the second quarter valued at about $10,423,000. Assenagon Asset Management S.A. acquired a new stake in TG Therapeutics in the 2nd quarter worth about $8,698,000. Finally, Point72 Europe London LLP acquired a new stake in TG Therapeutics in the 2nd quarter worth about $2,860,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

Analyst Ratings Changes

TGTX has been the topic of several recent research reports. B. Riley raised their target price on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. HC Wainwright raised their price objective on TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group increased their target price on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, TD Cowen started coverage on TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

Insiders Place Their Bets

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.44, for a total value of $152,200.00. Following the completion of the transaction, the director now directly owns 100,195 shares in the company, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.50% of the company’s stock.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $34.26 on Wednesday. TG Therapeutics, Inc. has a twelve month low of $12.30 and a twelve month high of $36.84. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The stock’s 50-day simple moving average is $25.81 and its 200 day simple moving average is $21.83. The firm has a market capitalization of $5.33 billion, a PE ratio of -342.60 and a beta of 2.19.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $83.90 million for the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The company’s revenue for the quarter was down 49.4% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. On average, analysts anticipate that TG Therapeutics, Inc. will post 0.17 EPS for the current fiscal year.

TG Therapeutics Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.