Simplify Asset Management Inc. Acquires Shares of TG Therapeutics, Inc.

Simplify Asset Management Inc. recently established a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) during the fourth quarter, as revealed in the company’s latest 13F filing with the SEC. The firm acquired 11,237 shares in the biopharmaceutical company, which is valued at roughly $338,000.

Additionally, several other prominent investors have adjusted their stakes in TG Therapeutics. Victory Capital Management Inc. increased its holdings by 24.7% in the third quarter, now owning 32,679 shares worth approximately $764,000 after adding 6,467 shares last quarter. Empowered Funds LLC also raised its ownership by 3.1%, totaling 46,431 shares valued at $1,086,000 after purchasing an extra 1,386 shares during this period. Other notable new stakes include Mutual of America Capital Management LLC, buying in for around $469,000, and Thrivent Financial for Lutherans, which invested $2,450,000. Quest Partners LLC also purchased a new position valued at $246,000. Currently, 58.58% of TG Therapeutics’ stock is owned by hedge funds and institutional investors.

Performance of TG Therapeutics

On Friday, shares of TG Therapeutics opened at $42.99. The company maintains a debt-to-equity ratio of 1.27, with a quick ratio of 3.91 and a current ratio of 4.59. The stock's 50-day moving average stands at $33.17, and the 200-day moving average is $29.68. Over the past year, TG Therapeutics has experienced a low of $12.93 and a high of $43.15 in its stock price. The company’s market capitalization is estimated at $6.75 billion, with a PE ratio of -429.86 and a beta of 2.30.

TG Therapeutics released its latest earnings results on March 3rd, where the company reported earnings per share of $0.15, which surpassed analysts’ expectations of $0.08 by $0.07. Despite a negative return on equity of 8.32% and a negative net margin of 5.42%, TG Therapeutics achieved revenue of $108.19 million for the quarter, exceeding estimates of $100.67 million. Analysts predict that TG Therapeutics, Inc. will report earnings of $0.08 per share for the current fiscal year.

Analysts' Ratings Changes

A number of analysts have recently provided insights regarding TG Therapeutics. HC Wainwright reaffirmed a “buy” rating, setting a target price of $55.00 on the stock in a note dated March 4th. Likewise, JPMorgan Chase & Co. increased their target price from $30.00 to $43.00 while assigning an “overweight” rating on November 25th. Furthermore, StockNews.com upgraded the stock from a “sell” to a “hold” rating on March 4th. Currently, two analysts have rated TG Therapeutics as holding, while five others have given it a buy rating, resulting in an average rating of “Moderate Buy” with a target price of $40.67, according to MarketBeat.com.

Insider Transactions

In other news regarding TG Therapeutics, CFO Sean A. Power recently sold 10,021 shares of the company on January 6th. The shares were sold at an average price of $28.53, totaling approximately $285,899.13. After this transaction, the CFO holds 660,611 shares, valued at about $18,847,231.83, marking a 1.49% decrease in his ownership. This transaction was disclosed in a filing with the SEC. Currently, corporate insiders own 10.50% of the stock.

About TG Therapeutics

TG Therapeutics, Inc., a biopharmaceutical company in its commercial stage, specializes in acquiring, developing, and marketing innovative treatments for diseases mediated by B-cells, both in the United States and internationally. Its main product, BRIUMVI, is an anti-CD20 monoclonal antibody aimed at treating adult patients with relapsing forms of multiple sclerosis (RMS), including conditions like clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease.

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