National Asset Management Inc. Decreases Stake in TG Therapeutics Inc (NASDAQ:TGTX)

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National Asset Management Inc. decreased its stake in shares of TG Therapeutics Inc (NASDAQ:TGTX) by 25.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,400 shares of the biopharmaceutical company’s stock after selling 3,500 shares during the period. National Asset Management Inc.’s holdings in TG Therapeutics were worth $90,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Aperio Group LLC acquired a new stake in shares of TG Therapeutics in the 2nd quarter valued at approximately $32,000. BNP Paribas Arbitrage SA increased its stake in TG Therapeutics by 239.6% in the first quarter. BNP Paribas Arbitrage SA now owns 13,117 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 9,255 shares in the last quarter. Cutter & CO Brokerage Inc. bought a new stake in TG Therapeutics in the second quarter valued at approximately $176,000. SG Americas Securities LLC increased its stake in TG Therapeutics by 5.0% in the second quarter. SG Americas Securities LLC now owns 30,858 shares of the biopharmaceutical company’s stock valued at $267,000 after purchasing an additional 1,481 shares in the last quarter. Finally, Edge Wealth Management LLC bought a new stake in TG Therapeutics in the second quarter valued at approximately $270,000. 53.17% of the stock is currently owned by institutional investors and hedge funds.

TGTX traded up $0.06 during trading hours on Wednesday, hitting $5.98. 1,397 shares of the company’s stock were exchanged, compared to its average volume of 1,072,998. TG Therapeutics Inc has a 1-year low of $3.32 and a 1-year high of $12.90. The stock’s 50-day moving average is $7.19 and its two-hundred day moving average is $7.14. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.69 and a current ratio of 1.69.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.01. TG Therapeutics had a negative net margin of 99,488.13% and a negative return on equity of 496.99%. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.04 million. Research analysts forecast that TG Therapeutics Inc will post -1.53 EPS for the current fiscal year.

TGTX has been the subject of several recent analyst reports. ValuEngine raised shares of TG Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. B. Riley reissued a “buy” rating on shares of TG Therapeutics in a research note on Tuesday, June 11th. Cantor Fitzgerald reissued a “buy” rating and set a $17.00 price target on shares of TG Therapeutics in a research note on Monday, May 13th. BidaskClub lowered TG Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Finally, Zacks Investment Research raised TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. TG Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $14.07.

In related news, CFO Sean A. Power sold 17,654 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $8.47, for a total value of $149,529.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael S. Weiss bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was purchased at an average cost of $7.04 per share, for a total transaction of $352,000.00. The disclosure for this purchase can be found here. Corporate insiders own 14.20% of the company’s stock.

TG Therapeutics Company Profile

TG Therapeutics, Inc, a biopharmaceutical company, engages in developing and delivering medicines for patients with chronic lymphocytic leukemia (CLL), non-Hodgkin's Lymphoma (NHL), and Multiple Sclerosis (MS). It develops a robust B-cell directed research and development platform for identification of key B-cell pathways of interest and rapid clinical testing.

Read More: Cost of Equity For A Business, Investors

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Institutional Ownership by Quarter for TG Therapeutics (NASDAQ:TGTX)

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