Verition Fund Management LLC Reduces Stake in TG Therapeutics, Inc. (NASDAQ:TGTX)

Verition Fund Management LLC lessened its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 12.6% in the third quarter, Holdings Channel reports. The fund owned 45,699 shares of the biopharmaceutical company’s stock after selling 6,613 shares during the quarter. Verition Fund Management LLC’s holdings in TG Therapeutics were worth $1,069,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. boosted its stake in shares of TG Therapeutics by 58.9% during the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 485 shares during the last quarter. Blue Trust Inc. lifted its position in TG Therapeutics by 127.3% during the third quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 849 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in TG Therapeutics during the second quarter valued at about $35,000. ORG Wealth Partners LLC purchased a new stake in TG Therapeutics in the third quarter worth about $53,000. Finally, Values First Advisors Inc. purchased a new position in shares of TG Therapeutics during the 3rd quarter valued at about $58,000. Institutional investors own 58.58% of the company’s stock.

Insiders Place Their Bets

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction on Monday, November 11th. The shares were 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 of the company’s stock, valued at $3,049,935.80. This trade represents a 4.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 10.50% of the company’s stock.

TG Therapeutics Stock Performance

TGTX opened at $33.93 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of -339.30 and a beta of 2.25. The company has a fifty day moving average of $27.64 and a 200 day moving average of $22.92. TG Therapeutics, Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $36.84.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The firm had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. During the same quarter in the previous year, the business earned $0.73 EPS. The company’s revenue for the quarter was down 49.4% on a year-over-year basis. As a group, sell-side analysts forecast that TG Therapeutics, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TGTX has been the topic of a number of recent analyst reports. TD Cowen assumed coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 target price on the stock. StockNews.com downgraded shares of TG Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday. The Goldman Sachs Group lifted their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. HC Wainwright increased their price target on TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, TG Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Company 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.