Renaissance Technologies LLC Makes New $11.32 Million Investment in TG Therapeutics, Inc. $TGTX

Renaissance Technologies LLC acquired a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the first quarter, Holdings Channel reports. The institutional investor acquired 340,900 shares of the biopharmaceutical company’s stock, valued at approximately $11,325,000.

Several other institutional investors have also recently made changes to their positions in the company. Maryland State Retirement & Pension System lifted its stake in shares of TG Therapeutics by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company’s stock valued at $593,000 after purchasing an additional 393 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in TG Therapeutics by 1.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock valued at $1,135,000 after buying an additional 441 shares during the period. Smartleaf Asset Management LLC grew its position in TG Therapeutics by 16.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 454 shares during the period. HB Wealth Management LLC increased its holdings in TG Therapeutics by 6.7% in the first quarter. HB Wealth Management LLC now owns 7,514 shares of the biopharmaceutical company’s stock valued at $250,000 after buying an additional 475 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in TG Therapeutics by 1.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,062 shares of the biopharmaceutical company’s stock valued at $926,000 after buying an additional 500 shares in the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

TG Therapeutics Stock Performance

TGTX opened at $52.03 on Friday. The firm’s fifty day simple moving average is $50.48 and its two-hundred day simple moving average is $38.86. TG Therapeutics, Inc. has a 52-week low of $25.28 and a 52-week high of $59.30. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.30 and a beta of 1.60. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS 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 company had revenue of $204.92 million for the quarter, compared to analysts’ expectations of $200.33 million. During the same period in the prior year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 69.5% on a year-over-year basis. Equities analysts anticipate that TG Therapeutics, Inc. will post 1.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. B. Riley Financial increased their target price on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Bank of America lifted their price target on TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a research note on Tuesday, July 7th. HC Wainwright upped their price target on TG Therapeutics from $70.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Jefferies Financial Group reiterated a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a research report on Monday, June 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a report on Wednesday. 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $58.50.

TG Therapeutics Company 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.