TG Therapeutics, Inc. (NASDAQ:TGTX) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 22.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,793,931 shares of the biopharmaceutical company’s stock after selling 788,652 shares during the quarter. Pictet Asset Management Holding SA’s holdings in TG Therapeutics were worth $84,097,000 at the end of the most recent reporting period.

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

Insider Transactions at TG Therapeutics

In other news, CFO Sean A. Power sold 10,021 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $28.53, for a total value of $285,899.13. Following the transaction, the chief financial officer now owns 660,611 shares of the company’s stock, valued at approximately $18,847,231.83. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of TG Therapeutics in a research note on Tuesday, March 4th. StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $39.86 on Friday. The company has a market cap of $6.26 billion, a P/E ratio of -398.56 and a beta of 2.30. The firm’s 50 day moving average is $34.37 and its two-hundred day moving average is $30.34. TG Therapeutics, Inc. has a fifty-two week low of $12.93 and a fifty-two week high of $43.32. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27.

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. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The business had revenue of $108.19 million for the quarter, compared to analyst estimates of $100.67 million. Analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

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.