Exploring TG Therapeutics, Inc. (TGTX) Investor Profile: Who’s Buying and Why?

You're looking at TG Therapeutics, Inc. (TGTX) and wondering why the smart money is still piling in, even with a mixed market reaction to their recent earnings, and honestly, the answer is simple: BRIUMVI (ublituximab-xiiy, a treatment for multiple sclerosis) is driving massive, predictable revenue growth. Institutional ownership is robust, sitting at approximately 64.63% of the company, which means the big players like BlackRock, Inc. and The Vanguard Group, Inc. are firmly in control of the stock's direction. BlackRock, for example, holds a leading position with over 21.8 million shares as of the second quarter of 2025, a stake valued around $785 million at that time, and they defintely don't buy that much without a clear growth thesis.

The core of that thesis? TG Therapeutics raised its full-year 2025 guidance for U.S. net product revenue from BRIUMVI to roughly $585 million, pushing total global revenue to about $600 million-that's a huge jump from earlier projections, and a clear signal of market adoption. Plus, the company is demonstrating confidence by authorizing an additional $100 million share repurchase program after completing a prior one. But, with insiders selling recently, are you buying into a crowded trade, or is this still a high-growth biotech story? We'll map out the near-term risks and opportunities that are shaping the decisions of the largest investors.

Who Invests in TG Therapeutics, Inc. (TGTX) and Why?

You're looking at TG Therapeutics, Inc. (TGTX) and trying to figure out if the big money is still buying, and the short answer is yes, but they are focused on a very specific growth story. The investor base is dominated by large institutions betting on the commercial success of their key drug, BRIUMVI, which is driving significant revenue growth in 2025.

The ownership structure is top-heavy, with institutional investors holding a commanding stake of approximately 63.77% as of the third quarter of 2025. This means a few large players can really influence the stock price. The remaining shares are split between the general public, who hold around 17% to 21%, and company insiders like the CEO, Michael Weiss, who holds about 6.3% of the stock.

Here's the quick math on who owns the company:

• Institutional Investors: ~63.77% (Passive and Active Funds)
• Retail Investors: ~20% (General Public)
• Insiders: ~6.3% (Management and Directors)

The Institutional Heavyweights and Their Motives

The biggest players are the passive giants, the ones who track major indexes. Firms like BlackRock, Inc. and The Vanguard Group, Inc. are consistently the largest shareholders, with BlackRock, Inc. holding roughly 15% and The Vanguard Group, Inc. holding around 11% of the common stock. These holdings are mostly passive, meaning they own the stock because TG Therapeutics, Inc. is a component of a major index fund, but their sheer size gives them enormous influence.

Their primary motivation is simple: growth. TG Therapeutics, Inc. is a biotech company, so they don't pay a dividend-the payout ratio is 0.00%-which immediately filters out most income-focused investors. The entire investment thesis rests on the continued, explosive commercial ramp-up of BRIUMVI, their treatment for relapsing forms of multiple sclerosis. The company's full-year 2025 U.S. BRIUMVI net revenue guidance was recently raised to approximately $585 million, up from earlier estimates, signaling that the commercial launch is defintely exceeding expectations. This is a pure growth play.

For more on the foundation of this growth, you can check out TG Therapeutics, Inc. (TGTX): History, Ownership, Mission, How It Works & Makes Money.

Hedge Fund Activity and Investment Strategies

Active investors, especially hedge funds, are using a mix of strategies, which is why the stock can be volatile (its beta is about 1.6). While some sources suggest hedge funds don't hold a majority, the latest Q1 2025 filings show 371 funds and large institutions had a massive $3.88 billion invested. This isn't small change.

The activity is a clear sign of a momentum and growth strategy. In a recent quarter, we saw 149 institutional investors adding to their positions, but also 226 decreasing them. This tells you there's a high degree of active trading and disagreement on the near-term trajectory. For example, Soleus Capital Management, L.P. significantly increased its position in Q3 2025, adding over 1.6 million shares, a classic growth-at-a-reasonable-price (GARP) move, while others were trimming.

A key factor attracting these active funds is the company's financial discipline and capital allocation:

• Profitability: TG Therapeutics, Inc. achieved its sixth consecutive quarter of profitability in Q3 2025, with GAAP net income of $390.9 million (aided by a one-time tax benefit).
• Share Buybacks: The company completed a $100 million share repurchase program in Q3 2025 and authorized an additional $100 million buyback. This reduces the share count and boosts earnings per share, which is a major signal to growth investors.

The table below summarizes the core motivations driving the major investor types:

Institutional Ownership and Major Shareholders of TG Therapeutics, Inc. (TGTX)

The short answer is that institutional investors-the large funds and asset managers-are the primary drivers of TG Therapeutics, Inc. (TGTX) stock, holding a significant majority of the shares and reflecting a strong, though sometimes volatile, conviction in the company's commercial-stage biopharma strategy.

As of late 2025, institutional ownership is robust, hovering around 64.63% of the total shares outstanding, or approximately 104.7 million shares. This high concentration means that a handful of major players effectively control the stock's trading dynamics and can exert considerable influence on corporate strategy, which is typical for a biotech firm with a recently approved, high-potential drug like Briumvi.

Here's the quick math: with institutions owning over half the stock, their collective decisions can easily outweigh individual investor sentiment.

The Largest Institutional Investors in TGTX

When you look at the shareholder registry, you see the titans of the asset management world leading the charge. These aren't speculative hedge funds in the top spots, but rather passive and active index giants like BlackRock and Vanguard, which speaks to TGTX's inclusion in major indices (like the Russell 2000) and its increasing credibility among professional investors.

The top three institutional holders alone account for over a quarter of the company's institutional float.

• BlackRock, Inc.: Holds the largest stake with approximately 14.6% of shares outstanding, totaling 21,300,053 shares, valued at roughly $664.8 million as of September 30, 2025.
• The Vanguard Group, Inc.: The second largest, owning about 10.6% of common stock, representing 15,521,299 shares, valued at approximately $484.4 million.
• State Street Global Advisors, Inc.: A major passive player with a 5.54% stake, holding 8,100,619 shares.

Other significant investors include Soleus Capital Management, L.P. and Clearbridge Investments, LLC, demonstrating a mix of dedicated biotech funds and large, diversified asset managers. To understand the full context of these holdings, you can review the company's journey at TG Therapeutics, Inc. (TGTX): History, Ownership, Mission, How It Works & Makes Money.

Recent Shifts in Institutional Ownership (Q3 2025)

The third quarter of 2025 saw a flurry of activity, which is defintely a signal of a company at an inflection point. The overall institutional position stood at 63.77% as of November 2025, but the underlying transactions show a clear divergence in strategy among professional money managers.

We saw some massive buys and sales. For example, Soleus Capital Management, L.P. significantly ramped up its position, adding over 1.6 million shares, an increase of 71.3%. Clearbridge Investments, LLC also made a substantial move, adding about 1.59 million shares. This is an aggressive vote of confidence, likely tied to the strong Q3 2025 earnings report.

Conversely, some large funds were trimming their positions. WELLINGTON MANAGEMENT GROUP LLP removed over 1.16 million shares, a nearly complete exit (-95.1%), and FMR LLC cut its stake by 54.2%, removing 840,630 shares. Even the top holders, BlackRock and Vanguard, slightly reduced their percentage stakes by 2.35% and 1.82%, respectively, in the quarter ending September 2025.

This mixed activity shows that while the company is executing well-Q3 revenue surged 92.8% year-over-year to $161.71 million and 2025 total global revenue guidance was raised to $600 million-some investors are taking profits or rebalancing. It's a classic risk-reward scenario in biotech.

Impact of Large Investors on Stock Price and Strategy

Institutional investors play a critical, dual-edged role in TG Therapeutics' stock. Their high ownership means they are the primary source of liquidity and price stability, but they also introduce significant volatility. When a fund like BlackRock makes a move, the market feels it.

Because institutions own a majority stake, they have the power to influence board decisions and corporate strategy, especially concerning capital allocation and future drug development. The high institutional ownership reflects a belief that the company's core product, Briumvi, will continue to drive revenue growth, justifying the company's valuation.

However, this concentration also makes the stock vulnerable to herd behavior, which is a key risk. If a few major institutions decide to liquidate their positions simultaneously, the stock price can drop sharply, regardless of underlying business fundamentals. This is why TGTX's stock price is highly sensitive to their collective trading decisions.

For you, the investor, tracking these 13F filings (the quarterly reports institutions file with the SEC) is not just an academic exercise; it's an early warning system for market sentiment shifts.

Key Investors and Their Impact on TG Therapeutics, Inc. (TGTX)

You want to know who is betting big on TG Therapeutics, Inc. (TGTX) and why. The short answer is that the biggest institutional money managers-the passive giants-are the foundational owners, but the recent, high-conviction buying is coming from specialist biotech funds. This mix gives the stock a solid floor but also the potential for sharp moves based on drug performance.

Overall, institutional investors hold a significant stake, with ownership sitting around 63.77% as of the most recent data. That is a high number, and it means the stock's price is heavily influenced by the quarterly portfolio adjustments of these major players.

The Foundational Giants: BlackRock, Vanguard, and State Street

The largest shareholders are the household names of asset management, the ones who own a piece of nearly every public company through index funds and massive ETFs (Exchange-Traded Funds). They are the stable core of the investor base, and their movements are generally passive, but their sheer size gives them immense influence.

Here is the quick math on the top three as of the Q3 2025 filings (September 30, 2025):

What this table shows is that while BlackRock, Inc. and Vanguard Group Inc. trimmed their positions slightly in Q3 2025, State Street Corp actually added shares. This kind of minor rebalancing is typical for these indexing giants, but their combined stake of over 44 million shares provides a huge anchor for the stock. If one of them decided to make a large, active move, it would defintely move the market.

Recent High-Conviction Moves by Specialist Funds

The more interesting action comes from the specialist hedge funds and asset managers who are making a high-conviction bet on the success of BRIUMVI, the company's multiple sclerosis drug. These funds are not passive; they are buying because they believe the market is still underestimating the drug's revenue trajectory.

The biggest recent buyers in Q3 2025 were:

• Soleus Capital Management, L.P.: Added 1,600,796 shares, a massive 71.3% increase to their holding.
• Clearbridge Investments, LLC: Boosted their position by 1,591,919 shares, a 52.2% jump.

These are not small adjustments; these are significant capital allocations that signal deep confidence in the company's ability to execute on its 2025 financial guidance. The market is reacting to real numbers: the company's Q3 2025 revenue hit $161.7 million, a 93% increase year-over-year, and the full-year 2025 net revenue guidance was raised to $560 million. That is the core driver for their buying.

Investor Influence and Actions: The Buyback Signal

The influence of these large investors is often subtle, but it is always present. When a company has high institutional ownership, management is incentivized to pursue shareholder-friendly actions. A clear example of this is the company's capital allocation strategy in 2025.

The company completed a $100 million share repurchase program and then authorized an additional $100 million buyback. This action directly benefits shareholders by reducing the outstanding share count, which helps boost earnings per share (EPS). It is a move that large, long-term investors like BlackRock and Vanguard typically appreciate because it signals financial strength and a commitment to returning capital.

On the flip side, we saw a notable exit when Deerfield Management Company, L.P. removed their entire stake of 2,677,500 shares in Q2 2025, valued at an estimated $96,363,225. This kind of complete liquidation by a major fund can create temporary downward pressure, but the fact that other funds like Soleus and Clearbridge stepped in with huge buys in the following quarter shows a fundamental disagreement on the long-term outlook. You can read more about the company's journey and financial structure here: TG Therapeutics, Inc. (TGTX): History, Ownership, Mission, How It Works & Makes Money.

The current investor profile is a classic growth story: passive index funds provide the base, while active biotech funds are aggressively buying the growth narrative fueled by strong BRIUMVI sales. This setup means the stock will likely trade less on general market sentiment and more on product adoption and future pipeline updates.

Market Impact and Investor Sentiment

You need a clear read on who's driving TG Therapeutics, Inc. (TGTX) and what they think, because institutional buying power dictates near-term stock movement. The overall investor sentiment is a cautious 'Moderate Buy,' a blend of professional optimism on the core drug, BRIUMVI, and realism about market competition. This mixed view is why you see the stock price at around $30.45 as of November 20, 2025, still well below the average analyst target.

The market has high expectations. TG Therapeutics has a history of a 'beat-and-raise' guidance policy, so anything less than a significant beat is often met with selling pressure. Honestly, the market expects perfection now.

The Institutional Anchor: Who Holds the Keys

Institutional investors-the big money like mutual funds and pension funds-hold the majority of TG Therapeutics, Inc. stock, making them the true price drivers. Their collective ownership sits around 58.58% as of late 2025, which gives them significant influence over the company's direction. When institutions hold this much, their trading decisions can create swift, sharp price swings, so you need to watch their filings closely.

The largest shareholders are the giants of the investment world, including BlackRock, Inc., which holds a substantial 15% of shares outstanding, and The Vanguard Group, Inc. with an 11% stake. These passive giants are long-term holders, signaling confidence in the company's core value proposition. However, smaller, more active funds are constantly adjusting positions, which is where the volatility comes from.

Here's a quick look at the top institutional players for TG Therapeutics, Inc. in 2025:

• BlackRock, Inc.: 15% ownership.
• The Vanguard Group, Inc.: 11% ownership.
• VOYA INVESTMENT MANAGEMENT LLC: Top holder as of September 2025 with 404.73K shares.

Recent Market Reactions and Ownership Shifts

The stock market's response to TG Therapeutics, Inc.'s recent performance has been a classic example of 'sell the news,' even when the news is good. For instance, in November 2025, the company reported a strong quarter with an impressive $2.43 EPS, crushing the consensus estimate of $0.24, and revenue of $161.7 million. But the stock still traded down about 2.8% near $30.33.

This mixed reaction points to high investor expectations and concerns about future growth deceleration for their key drug, BRIUMVI, as competition intensifies. Insider trading has also shown selling activity, with one director selling 20,852 shares in September 2025, an 18.15% reduction in their position, though insider sentiment remains 'Neutral' overall. This is a red flag you defintely can't ignore.

Analyst Consensus and Key Investor Impact

The analyst community is largely bullish, which is a strong counter-signal to the recent stock price weakness. The consensus rating is a 'Strong Buy' to 'Moderate Buy'. The average price target is set high, ranging from $41.20 to $54.75, suggesting a significant upside from the current trading price.

The optimism is grounded in the company's financial trajectory. Management raised its full-year 2025 U.S. net revenue guidance for BRIUMVI to $560 million, reflecting confidence in continued market penetration. Analysts forecast full-year 2025 revenue at approximately $599.8 million and Earnings Per Share (EPS) at $0.77. The big institutional holders like BlackRock, Inc. and The Vanguard Group, Inc. are essentially betting on this revenue growth to materialize, and their large, stable positions provide a floor for the stock's valuation.

Here's the quick math on 2025 financial expectations and analyst targets:

What this estimate hides is the competitive risk; Novartis is testing a less-frequently administered version of Kesimpta, a direct competitor. This is the primary headwind that is keeping the stock from hitting those high price targets. For a deeper dive into these numbers, you should check out Breaking Down TG Therapeutics, Inc. (TGTX) Financial Health: Key Insights for Investors.

Your action here is simple: Watch the next quarterly report for any signs of a revenue miss against the $560 million guidance, as that will trigger a sharp institutional sell-off. If they beat, the stock will move fast.