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Is TG Therapeutics Inc (TGTX) A Good Stock To Buy?

Since TG Therapeutics Inc (NASDAQ:TGTX) has witnessed falling interest from the aggregate hedge fund industry, logic holds that there were a few funds who were dropping their positions entirely in the third quarter. At the top of the heap, D. E. Shaw’s D E Shaw dumped the biggest position of the “upper crust” of funds tracked by Insider Monkey, comprising close to $1.3 million in stock. Israel Englander’s fund, Millennium Management, also dumped its stock, about $0.6 million worth.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as TG Therapeutics Inc (NASDAQ:TGTX) but similarly valued. We will take a look at National Interstate Corporation (NASDAQ:NATL), Green Brick Partners Inc (NASDAQ:GRBK), Western Asset Mortgage Capital Corp (NYSE:WMC), and Getty Realty Corp. (NYSE:GTY). This group of stocks’ market values are closest to TGTX’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NATL 5 47849 0
GRBK 10 375709 -2
WMC 4 1505 -2
GTY 5 15079 -5

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $110 million. That figure was $113 million in TGTX’s case. Green Brick Partners Inc (NASDAQ:GRBK) is the most popular stock in this table with a total of 10 funds reporting long positions, while Western Asset Mortgage Capital Corp (NYSE:WMC) is the least popular one with only 4 bullish hedge fund positions. TG Therapeutics Inc (NASDAQ:TGTX) registers the same level of interest as Green Brick Partners, which may suggest that the stock is worth taking a closer look at and maybe initiating a long position.

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