In a surprising move, Barclays PLC has announced that it raised its stake in TG Therapeutics, Inc. by 11.3% during the first quarter of this year. This revelation came to light in the company’s most recent filing with the Securities & Exchange Commission (SEC). As per the report, the institutional investor now owns an impressive 790,093 shares of TG Therapeutics’ stock, a significant increase from their previous holdings. This strategic decision by Barclays PLC has sparked curiosity and speculation within the investment community.
TG Therapeutics is a renowned biopharmaceutical company that operates under the NASDAQ ticker symbol “TGTX.” With this recent development, it becomes apparent that Barclays PLC believes in TG Therapeutics’ potential for growth and success. The increased stake acquisition signifies their confidence in the company’s future performance and underscores their enthusiasm to invest further.
At present, Barclay PLC controls approximately 0.53% of TG Therapeutics’ worth, which amounts to an impressive $11,883,000 at the end of the latest quarter. This notable increase in stake is not only indicative of Barclays PLC’s high regard for TG Therapeutics but also highlights their commitment to expanding their portfolio within the biopharmaceutical sector.
Interestingly, this news follows another significant event involving TG Therapeutics – a recent transaction involving CFO Sean A. Power. On June 2nd, Power sold an astonishing 73,647 shares of TG Therapeutics’ stock at an average price of $26.70 per share. The total value of this transaction amounted to a staggering $1,966,374.90.
Following this sale, Sean A. Power retains ownership of 654,836 shares in the company, currently valued at $17,484,121.20.The details regarding this transaction were legally disclosed through a filing with SEC on June 2nd as well.
Additionally,the extraordinary developments surrounding insider trading have caused quite a stir within TG Therapeutics. Director Sagar Lonial recently sold 34,854 shares of the company’s stock on June 23rd, at an average price of $23.37 per share, equating to a total value of $814,537.98.
At present, Lonial holds a notable amount of 93,878 shares in TG Therapeutics, currently valued at approximately $2,193,928.86.This disclosure has been officially documented and can be accessed through the SEC’s website.
It is also imperative to mention that corporate insiders collectively own roughly 9.20% of TG Therapeutics’ stock. This is an essential point to consider for individuals interested in investing in the company or assessing its growth prospects going forward.
Barclays PLC’s increased stake acquisition in TG Therapeutics signifies a substantial investment by a respected institutional investor within the biopharmaceutical industry. This move speaks volumes about their confidence in the company’s potential and piques interest among other investors and analysts alike.
All eyes are now turned towards TG Therapeutics as investors eagerly await updates on its future endeavors and breakthroughs in the highly competitive world of biopharmaceuticals. The recent developments signify potential growth not only for Barclays PLC but also for those who choose to navigate this bold and intriguing investment landscape.
In conclusion, Barclays PLC’s decision to raise its stake in TG Therapeutics showcases a degree of optimism that has captured the attention of many investors. As August 8th, 2023 begins weaving its tapestry into financial history, industry enthusiasts eagerly await further developments concerning both Barclays PLC and TG Therapeutics – two entities engaged in a symbiotic dance toward success.
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Institutional Investors and Hedge Funds Show Interest in TG Therapeutics, Shaping Its Future
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”TGTX” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Institutional investors and hedge funds have been showing a great deal of interest in TG Therapeutics, a prominent biopharmaceutical company. Recent reports indicate that several hedge funds and institutional investors have made adjustments to their stock holdings of TG Therapeutics. This move has the potential to reshape the company’s future, as well as impact its standing in the market.
Prominent among these investors is Ameritas Advisory Services LLC, which acquired a new position in TG Therapeutics during the first quarter of this year. The investment was valued at around $25,000, indicating a sense of confidence in the company’s potential for growth and profitability.
Another key player is Belpointe Asset Management LLC, which purchased a new stake in TG Therapeutics during the fourth quarter of last year. This investment was also valued at approximately $25,000, signifying another show of faith in the company’s prospects.
Lazard Asset Management LLC is yet another notable investor that entered into a new stake with TG Therapeutics during the first quarter. With an investment worth approximately $60,000, Lazard is clearly expressing its confidence in the biopharmaceutical company.
Additionally, CI Investments Inc. saw fit to raise its position in TG Therapeutics by an impressive 287.7% during the fourth quarter. The firm now owns 9,110 shares of TG Therapeutics’ stock valued at around $108,000 after buying an additional 6,760 shares during the period. CI Investments Inc.’s increased investment serves as further evidence that institutional investors believe in the potential success of TG Therapeutics.
Finally, Beacon Investment Advisory Services Inc. acquired a new position with TG Therapeutics during the first quarter with an approximate value of $150,000. This signifies yet another institutional investor who believes that investing in this biopharmaceutical company can yield profitable returns.
Importantly, it should be noted that as much as 62.66% of TG Therapeutics’ stock is currently owned by institutional investors and hedge funds. This indicates a high degree of confidence in the company’s future prospects and its ability to deliver strong performance in the market.
Equities research analysts have also been actively following TG Therapeutics, producing reports that provide valuable insight into its stock performance. The Goldman Sachs Group recently raised TG Therapeutics’ rating from “sell” to “neutral,” while simultaneously cutting their target price for the stock from $16.00 to $12.00. Similarly, JPMorgan Chase & Co. reduced their price objective on the shares from $34.00 to $22.00 but maintained an “overweight” rating.
StockNews.com, another reputable source, upgraded TG Therapeutics from a “sell” rating to a “hold” rating on August 2nd, offering a more optimistic view on the company’s outlook. Meanwhile, HC Wainwright boosted their price target for TG Therapeutics from $34.00 to $41.00 and issued a solid “buy” rating for the company in another research note published on August 1st.
Lastly, B.Riley reaffirmed a “buy” rating, previously set at $42.00 but lowered to $32.00 against the current backdrop, indicating continued support for investing in TG Therapeutics despite these adjustments.
Collectively, these analysts’ ratings demonstrate a wide spectrum of opinions about TG Therapeutics stock as it continues its journey in the market. The average Bloomberg.com rating currently suggests a moderate buy consensus among analysts with an average price target of $23.14 per share.
On Tuesday morning, TG Therapeutics stock opened at $10.10 per share before trading commenced—a crucial moment for investors awaiting significant market movements from this biopharmaceutical company.
It is worth noting that TG Therapeutics has had both positive and negative movements in recent months concerning its moving averages and overall performance. The company’s 50-day moving average is $22.64, while its two-hundred-day moving average stands at $21.15. These figures reflect a certain level of market volatility that institutional investors and hedge fund managers closely monitor.
Furthermore, TG Therapeutics boasts a respectable market capitalization of $1.51 billion, indicating significant assets under management. The company’s price-to-earnings ratio (PE ratio) currently stands at -7.95, suggesting that the stock is undervalued relative to its earnings potential. The beta factor for the stock is 2.02, implying that it tends to be more volatile than the broader market.
TG Therapeutics also demonstrates promising liquidity ratios, with a quick ratio of 2.50 and a current ratio of 2.93—both healthy indicators of the company’s ability to meet short-term obligations in a timely manner. Furthermore, TG Therapeutics maintains a debt-to-equity ratio of 3.52, which could be seen as relatively high but may not significantly impact the company’s financial stability.
TG Therapeutics recently revealed its earnings results on August 1st, and they were less than favorable according to many analysts’ expectations. The biopharmaceutical company reported an EPS (earn
