Citigroup Inc. Boosts Stake in TG Therapeutics, Inc. (NASDAQ:TGTX)

Citigroup Inc. boosted its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 349,104 shares of the biopharmaceutical company’s stock after buying an additional 1,927 shares during the period. Citigroup Inc.’s holdings in TG Therapeutics were worth $13,765,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of TG Therapeutics during the 4th quarter worth approximately $14,508,000. Penn Capital Management Company LLC bought a new stake in TG Therapeutics in the fourth quarter worth $10,577,000. First Trust Advisors LP raised its stake in TG Therapeutics by 871.7% during the fourth quarter. First Trust Advisors LP now owns 275,496 shares of the biopharmaceutical company’s stock valued at $8,292,000 after purchasing an additional 247,145 shares in the last quarter. Voya Investment Management LLC lifted its position in TG Therapeutics by 398.0% during the fourth quarter. Voya Investment Management LLC now owns 273,739 shares of the biopharmaceutical company’s stock valued at $8,240,000 after purchasing an additional 218,766 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of TG Therapeutics by 264.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 297,101 shares of the biopharmaceutical company’s stock worth $8,944,000 after buying an additional 215,601 shares in the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $27.77 on Friday. The firm has a market capitalization of $4.41 billion, a PE ratio of 75.05 and a beta of 1.95. The stock’s fifty day moving average is $35.31 and its 200 day moving average is $35.87. TG Therapeutics, Inc. has a fifty-two week low of $20.81 and a fifty-two week high of $46.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.04 and a current ratio of 3.86.

TG Therapeutics (NASDAQ:TGTX) last announced its earnings results on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.15). The firm had revenue of $141.15 million during the quarter, compared to analysts’ expectations of $147.76 million. TG Therapeutics had a net margin of 13.31% and a return on equity of 26.05%. The company’s revenue was up 92.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 EPS. On average, sell-side analysts anticipate that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $36.94, for a total value of $369,400.00. Following the completion of the sale, the director owned 228,816 shares of the company’s stock, valued at $8,452,463.04. This trade represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded shares of TG Therapeutics to a “hold” rating and set a $37.00 target price on the stock in a research report on Thursday, July 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.25.

About TG Therapeutics

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.