TG Therapeutics, Inc. $TGTX Stake Raised by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 358,817 shares of the biopharmaceutical company’s stock after acquiring an additional 25,971 shares during the quarter. New York State Common Retirement Fund’s holdings in TG Therapeutics were worth $12,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new stake in TG Therapeutics during the second quarter valued at approximately $25,000. Johnson Financial Group Inc. acquired a new position in TG Therapeutics in the second quarter worth approximately $25,000. Salomon & Ludwin LLC bought a new position in shares of TG Therapeutics in the third quarter valued at $34,000. Stone House Investment Management LLC acquired a new stake in shares of TG Therapeutics during the 3rd quarter valued at $36,000. Finally, Private Wealth Asset Management LLC acquired a new stake in shares of TG Therapeutics during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Trading Down 0.8%

NASDAQ:TGTX opened at $29.18 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.82 and a quick ratio of 2.89. TG Therapeutics, Inc. has a fifty-two week low of $25.28 and a fifty-two week high of $46.48. The stock’s 50-day moving average is $30.68 and its two-hundred day moving average is $31.94. The stock has a market cap of $4.63 billion, a PE ratio of 10.50 and a beta of 1.85.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $2.19. TG Therapeutics had a net margin of 84.13% and a return on equity of 133.24%. The business had revenue of $161.71 million for the quarter, compared to the consensus estimate of $152.12 million. During the same period in the prior year, the business posted $0.02 earnings per share. TG Therapeutics’s revenue for the quarter was up 92.7% compared to the same quarter last year. As a group, equities research analysts forecast that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded TG Therapeutics from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TG Therapeutics in a research report on Monday, December 29th. B. Riley upgraded TG Therapeutics to a “strong-buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. reduced their price objective on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday. Finally, HC Wainwright started coverage on shares of TG Therapeutics in a report on Monday, October 6th. They issued a “buy” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.00.

Insider Activity at TG Therapeutics

In other TG Therapeutics news, Director Yann Echelard sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $32.57, for a total value of $162,850.00. Following the completion of the sale, the director directly owned 223,816 shares of the company’s stock, valued at $7,289,687.12. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 10.64% of the company’s stock.

About TG Therapeutics

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.