Burney Co. Reduces Stock Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

Burney Co. lowered its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,885 shares of the biopharmaceutical company’s stock after selling 415 shares during the period. Burney Co.’s holdings in TG Therapeutics were worth $1,351,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. lifted its stake in shares of TG Therapeutics by 58.9% in the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 485 shares during the period. Quarry LP raised its holdings in TG Therapeutics by 9.1% in the second quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 503 shares in the last quarter. Private Advisor Group LLC lifted its position in TG Therapeutics by 3.9% during the third quarter. Private Advisor Group LLC now owns 14,407 shares of the biopharmaceutical company’s stock valued at $337,000 after buying an additional 542 shares during the period. Brookstone Capital Management boosted its holdings in shares of TG Therapeutics by 3.7% during the 4th quarter. Brookstone Capital Management now owns 17,521 shares of the biopharmaceutical company’s stock valued at $527,000 after buying an additional 624 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of TG Therapeutics by 127.3% in the 3rd quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 849 shares during the period. 58.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Sagar Lonial sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.44, for a total transaction of $152,200.00. Following the transaction, the director now directly owns 100,195 shares of the company’s stock, valued at $3,049,935.80. This represents a 4.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sean A. Power sold 10,021 shares of the firm’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 completion of the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 26,358 shares of company stock valued at $781,497 in the last 90 days. 10.50% of the stock is currently owned by insiders.

TG Therapeutics Stock Performance

Shares of TGTX opened at $29.14 on Friday. The company has a market cap of $4.54 billion, a price-to-earnings ratio of -291.37 and a beta of 2.24. The business’s fifty day simple moving average is $31.69 and its two-hundred day simple moving average is $25.63. TG Therapeutics, Inc. has a 12 month low of $12.84 and a 12 month high of $36.84. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. The business had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. During the same period last year, the business earned $0.73 earnings per share. The company’s quarterly revenue was down 49.4% on a year-over-year basis. Research analysts anticipate that TG Therapeutics, Inc. will post 0.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

TGTX has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of TG Therapeutics in a research report on Wednesday. TD Cowen started coverage on TG Therapeutics in a research report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective for the company. StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised their price target on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.67.

About TG Therapeutics

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.