1620 Investment Advisors Inc. Makes New Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

1620 Investment Advisors Inc. bought a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX) in the 4th quarter, Holdings Channel reports. The fund bought 4,257 shares of the biopharmaceutical company’s stock, valued at approximately $128,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its holdings in TG Therapeutics by 24.5% in the fourth quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 371 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of TG Therapeutics by 512.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,905 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 1,594 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of TG Therapeutics by 460.7% in the 4th quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 1,737 shares during the last quarter. Synergy Asset Management LLC bought a new position in shares of TG Therapeutics in the 4th quarter worth about $75,000. Finally, GAMMA Investing LLC lifted its position in shares of TG Therapeutics by 562.4% in the 4th quarter. GAMMA Investing LLC now owns 2,557 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 2,171 shares during the last quarter. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Stock Performance

TG Therapeutics stock opened at $42.99 on Friday. The firm’s 50 day simple moving average is $33.17 and its 200-day simple moving average is $29.63. The company has a market cap of $6.75 billion, a P/E ratio of -429.86 and a beta of 2.30. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91. TG Therapeutics, Inc. has a fifty-two week low of $12.93 and a fifty-two week high of $43.15.

TG Therapeutics (NASDAQ:TGTX) last released 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 business had revenue of $108.19 million for the quarter, compared to the consensus estimate of $100.67 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. As a group, equities research analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TGTX shares. StockNews.com upgraded shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, HC Wainwright restated a “buy” rating and set a $55.00 price target on shares of TG Therapeutics in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, TG Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

Insider Buying and Selling

In related news, CFO Sean A. Power sold 10,021 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $28.53, for a total transaction of $285,899.13. Following the completion of the sale, the chief financial officer now directly owns 660,611 shares in the company, valued at approximately $18,847,231.83. This trade represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.50% of the stock is currently owned by corporate insiders.

TG Therapeutics 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.