Eventide Asset Management LLC Sells 238,117 Shares of TG Therapeutics, Inc. $TGTX

Eventide Asset Management LLC lowered its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 24.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 716,414 shares of the biopharmaceutical company’s stock after selling 238,117 shares during the period. Eventide Asset Management LLC owned approximately 0.45% of TG Therapeutics worth $21,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TGTX. Entropy Technologies LP boosted its holdings in TG Therapeutics by 822.6% during the 4th quarter. Entropy Technologies LP now owns 60,415 shares of the biopharmaceutical company’s stock valued at $1,801,000 after acquiring an additional 53,867 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in TG Therapeutics during the 4th quarter valued at about $245,000. Segall Bryant & Hamill LLC boosted its holdings in TG Therapeutics by 147.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 192,454 shares of the biopharmaceutical company’s stock valued at $5,737,000 after acquiring an additional 114,621 shares during the period. Bridgewater Associates LP boosted its holdings in TG Therapeutics by 37.3% during the 4th quarter. Bridgewater Associates LP now owns 469,855 shares of the biopharmaceutical company’s stock valued at $14,006,000 after acquiring an additional 127,706 shares during the period. Finally, Stifel Financial Corp boosted its holdings in TG Therapeutics by 209.2% during the 4th quarter. Stifel Financial Corp now owns 37,469 shares of the biopharmaceutical company’s stock valued at $1,117,000 after acquiring an additional 25,349 shares during the period. Institutional investors own 58.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TGTX shares. Wall Street Zen cut TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of TG Therapeutics in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.50.

TG Therapeutics Stock Up 3.1%

NASDAQ TGTX opened at $49.52 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12. The stock has a market capitalization of $7.58 billion, a PE ratio of 17.31 and a beta of 1.68. TG Therapeutics, Inc. has a 1 year low of $25.28 and a 1 year high of $50.41. The business’s 50-day moving average is $38.38 and its 200 day moving average is $33.11.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.11). The business had revenue of $204.92 million during the quarter, compared to the consensus estimate of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The firm’s revenue for the quarter was up 69.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. Sell-side analysts forecast that TG Therapeutics, Inc. will post 1.51 earnings per share for the current year.

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.