Newbridge Financial Services Group Inc. Reduces Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

Newbridge Financial Services Group Inc. trimmed its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 23.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,662 shares of the biopharmaceutical company’s stock after selling 1,150 shares during the period. Newbridge Financial Services Group Inc.’s holdings in TG Therapeutics were worth $56,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in shares of TG Therapeutics by 1.2% in the fourth quarter. New York State Common Retirement Fund now owns 56,208 shares of the biopharmaceutical company’s stock valued at $960,000 after acquiring an additional 663 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of TG Therapeutics by 8.2% in the third quarter. Kestra Advisory Services LLC now owns 16,342 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 1,240 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of TG Therapeutics by 3.5% in the third quarter. Arizona State Retirement System now owns 40,411 shares of the biopharmaceutical company’s stock valued at $338,000 after acquiring an additional 1,356 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of TG Therapeutics by 2.4% in the fourth quarter. Valeo Financial Advisors LLC now owns 63,300 shares of the biopharmaceutical company’s stock valued at $1,081,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Pingora Partners LLC purchased a new stake in shares of TG Therapeutics in the fourth quarter valued at about $27,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TG Therapeutics

In other news, Director Laurence N. Charney sold 22,000 shares of TG Therapeutics stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $15.97, for a total transaction of $351,340.00. Following the completion of the sale, the director now directly owns 215,229 shares in the company, valued at $3,437,207.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TGTX shares. StockNews.com cut shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $25.00 price objective on shares of TG Therapeutics in a research note on Thursday, April 18th. HC Wainwright raised their price objective on shares of TG Therapeutics from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. B. Riley raised their price objective on shares of TG Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, The Goldman Sachs Group lifted their target price on shares of TG Therapeutics from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.83.

TG Therapeutics Price Performance

TGTX traded up $1.10 during midday trading on Wednesday, reaching $17.70. 3,077,401 shares of the company’s stock were exchanged, compared to its average volume of 4,192,788. The stock has a market capitalization of $2.74 billion, a PE ratio of 76.96 and a beta of 2.33. TG Therapeutics, Inc. has a 1-year low of $6.46 and a 1-year high of $29.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.62 and a quick ratio of 2.84. The business’s 50-day moving average price is $15.35 and its 200 day moving average price is $15.30.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $63.47 million for the quarter, compared to analysts’ expectations of $54.60 million. TG Therapeutics had a return on equity of 31.34% and a net margin of 14.24%. The business’s quarterly revenue was up 713.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.28) earnings per share. As a group, equities analysts anticipate that TG Therapeutics, Inc. will post -0.01 EPS for the current fiscal 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.