Castellan Group Makes New $8.54 Million Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

Castellan Group purchased a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 283,679 shares of the biopharmaceutical company’s stock, valued at approximately $8,539,000. TG Therapeutics accounts for 3.7% of Castellan Group’s portfolio, making the stock its 3rd largest holding.

A number of other large investors have also recently bought and sold shares of TGTX. State Street Corp grew its stake in shares of TG Therapeutics by 35.8% in the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock valued at $212,712,000 after buying an additional 2,398,015 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of TG Therapeutics by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,609 shares of the biopharmaceutical company’s stock valued at $27,708,000 after buying an additional 7,939 shares during the period. Principal Financial Group Inc. grew its stake in shares of TG Therapeutics by 1,549.4% in the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after buying an additional 725,371 shares during the period. JPMorgan Chase & Co. grew its stake in shares of TG Therapeutics by 60.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 720,798 shares of the biopharmaceutical company’s stock valued at $16,859,000 after buying an additional 270,286 shares during the period. Finally, Barclays PLC grew its stake in shares of TG Therapeutics by 83.9% in the 3rd quarter. Barclays PLC now owns 347,057 shares of the biopharmaceutical company’s stock valued at $8,117,000 after buying an additional 158,323 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Stock Performance

TG Therapeutics stock opened at $30.90 on Thursday. TG Therapeutics, Inc. has a 52 week low of $12.84 and a 52 week high of $36.84. The company’s 50 day moving average price is $31.28 and its two-hundred day moving average price is $27.21. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91.

Insiders Place Their Bets

In other news, CFO Sean A. Power sold 11,337 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $30.29, for a total transaction of $343,397.73. Following the completion of the sale, the chief financial officer now owns 670,632 shares in the company, valued at $20,313,443.28. This trade represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on TGTX shares. StockNews.com downgraded TG Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. The Goldman Sachs Group raised their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of TG Therapeutics in a research report on Wednesday, January 15th. Finally, TD Cowen began coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Profile

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.