Pictet Asset Management Holding SA Trims Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

Pictet Asset Management Holding SA reduced its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 22.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,793,931 shares of the biopharmaceutical company’s stock after selling 788,652 shares during the period. Pictet Asset Management Holding SA owned approximately 1.79% of TG Therapeutics worth $84,097,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp increased its position in TG Therapeutics by 35.8% in the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock valued at $212,712,000 after acquiring an additional 2,398,015 shares during the period. Principal Financial Group Inc. grew its stake in shares of TG Therapeutics by 1,549.4% in the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after purchasing an additional 725,371 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of TG Therapeutics in the fourth quarter valued at approximately $14,508,000. Braun Stacey Associates Inc. purchased a new stake in shares of TG Therapeutics during the fourth quarter worth approximately $13,328,000. Finally, Norges Bank acquired a new stake in shares of TG Therapeutics during the fourth quarter worth $12,085,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TG Therapeutics

In other TG Therapeutics news, CFO Sean A. Power sold 10,021 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $28.53, for a total value of $285,899.13. Following the sale, the chief financial officer now owns 660,611 shares of the company’s stock, valued at approximately $18,847,231.83. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is currently owned by company insiders.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $39.86 on Friday. The firm’s fifty day simple moving average is $34.37 and its 200-day simple moving average is $30.34. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The stock has a market cap of $6.26 billion, a PE ratio of -398.56 and a beta of 2.30. TG Therapeutics, Inc. has a fifty-two week low of $12.93 and a fifty-two week high of $43.32.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. The company had revenue of $108.19 million for the quarter, compared to analyst estimates of $100.67 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. Analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on TGTX shares. StockNews.com raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and set a $55.00 price target on shares of TG Therapeutics in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.