World Equity Group Inc. Makes New Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

World Equity Group Inc. purchased a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 7,000 shares of the biopharmaceutical company’s stock, valued at approximately $211,000.

Several other large investors also recently modified their holdings of TGTX. State Street Corp increased its holdings in shares of TG Therapeutics by 35.8% in the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after acquiring an additional 2,398,015 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of TG Therapeutics by 1,549.4% during the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after buying an additional 725,371 shares during the period. Braun Stacey Associates Inc. acquired a new position in shares of TG Therapeutics during the fourth quarter worth about $13,328,000. Castellan Group acquired a new position in shares of TG Therapeutics during the fourth quarter worth about $8,539,000. Finally, Public Sector Pension Investment Board acquired a new position in shares of TG Therapeutics during the third quarter worth about $6,619,000. 58.58% of the stock is currently owned by institutional investors.

Insider Activity at TG Therapeutics

In other news, CFO Sean A. Power sold 11,337 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $30.29, for a total value of $343,397.73. Following the completion of the sale, the chief financial officer now directly owns 670,632 shares of the company’s stock, valued at $20,313,443.28. This trade represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

TGTX has been the subject of several recent research reports. StockNews.com cut TG Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. TD Cowen initiated 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. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of TG Therapeutics in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upped their price objective on TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, The Goldman Sachs Group increased their price target on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Stock Performance

Shares of NASDAQ TGTX opened at $29.02 on Tuesday. The stock has a 50 day moving average price of $30.96 and a 200 day moving average price of $27.90. TG Therapeutics, Inc. has a 52 week low of $12.93 and a 52 week high of $36.84. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The stock has a market capitalization of $4.52 billion, a PE ratio of -290.17 and a beta of 2.26.

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.