Lord Abbett & CO. LLC cut its position in TG Therapeutics, Inc. (NASDAQ:TGTX) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,440,459 shares of the biopharmaceutical company’s stock after selling 558,067 shares during the quarter. TG Therapeutics comprises about 0.6% of Lord Abbett & CO. LLC’s holdings, making the stock its 23rd largest position. Lord Abbett & CO. LLC owned about 3.38% of TG Therapeutics worth $230,993,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of TGTX. Pacer Advisors Inc. purchased a new position in shares of TG Therapeutics in the third quarter valued at $164,000. Nisa Investment Advisors LLC grew its position in shares of TG Therapeutics by 14.7% in the third quarter. Nisa Investment Advisors LLC now owns 21,050 shares of the biopharmaceutical company’s stock valued at $563,000 after purchasing an additional 2,700 shares in the last quarter. SlateStone Wealth LLC grew its position in shares of TG Therapeutics by 6.8% in the third quarter. SlateStone Wealth LLC now owns 15,797 shares of the biopharmaceutical company’s stock valued at $423,000 after purchasing an additional 1,000 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new position in shares of TG Therapeutics in the third quarter valued at $215,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of TG Therapeutics in the third quarter valued at $481,000. Hedge funds and other institutional investors own 65.73% of the company’s stock.
TG Therapeutics stock traded up $0.13 during midday trading on Tuesday, hitting $44.95. 14,831 shares of the company’s stock were exchanged, compared to its average volume of 1,583,360. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 3.35. The stock has a 50-day moving average price of $49.96 and a two-hundred day moving average price of $35.42. TG Therapeutics, Inc. has a 52-week low of $6.34 and a 52-week high of $56.74. The company has a market cap of $5.91 billion, a P/E ratio of -21.14 and a beta of 2.28.
Several equities analysts have recently weighed in on TGTX shares. Cantor Fitzgerald lifted their price target on TG Therapeutics from $30.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. B. Riley boosted their target price on TG Therapeutics from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 5th. HC Wainwright boosted their target price on TG Therapeutics from $78.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, February 8th. Finally, Zacks Investment Research upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, February 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. TG Therapeutics presently has an average rating of “Buy” and an average target price of $57.67.
About TG Therapeutics
TG Therapeutics, Inc, a biopharmaceutical company, focuses on the acquisition, development, and commercialization of various treatments for B-cell malignancies and autoimmune diseases. The company develops a robust B-cell directed research and development platform for identification of key B-cell pathways of interest and rapid clinical testing.
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