SummitTX Capital L.P. Sells 32,875 Shares of TG Therapeutics, Inc. $TGTX

SummitTX Capital L.P. reduced its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 76.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,217 shares of the biopharmaceutical company’s stock after selling 32,875 shares during the quarter. SummitTX Capital L.P.’s holdings in TG Therapeutics were worth $339,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Danske Bank A S purchased a new position in TG Therapeutics in the 3rd quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its position in shares of TG Therapeutics by 82.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 560 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of TG Therapeutics by 86.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 573 shares in the last quarter. Truvestments Capital LLC lifted its position in shares of TG Therapeutics by 172.4% during the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 1,026 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of TG Therapeutics in the fourth quarter worth $52,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Stock Down 2.8%

Shares of NASDAQ:TGTX opened at $52.03 on Friday. The firm has a fifty day moving average price of $50.48 and a two-hundred day moving average price of $38.86. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12. TG Therapeutics, Inc. has a one year low of $25.28 and a one year 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 1.34 and a beta of 1.60.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly 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). The firm had revenue of $204.92 million for the quarter, compared to analysts’ expectations of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The firm’s revenue for the quarter was up 69.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. Analysts anticipate that TG Therapeutics, Inc. will post 1.46 EPS for the current fiscal year.

Analysts Set New Price Targets

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