market folly

Roberto Mignone's hedge fund firm Bridger Capital has filed a 13G with the SEC regarding shares of TG Therapeutics (TGTX).  Per the filing, Bridger now owns 6% of the company with over 3.15 million shares.

This is basically double the 1.53 million shares they owned at the end of the second quarter. The filing was required due to activity on September 25th.  TGTX shares are down over 27% over the past three months and Bridger has taken advantage of that dip.

Per Google Finance, TG Therapeutics is "a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for b-cell malignancies and autoimmune diseases. As of December 31, 2014, TG had two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the CD20 antigen found on mature B-lymphocytes. The Company is also developing TGR-1202, an orally available PI3K delta inhibitor. As of December 31, 2014, both TG-1101 and TGR-1202 were in clinical development for patients with hematologic malignancies. The Company also has a pre-clinical program to develop inhibitors of IRAK4 (interleukin-1 receptor-associated kinase 4), as well as an antibody research program to develop anti-PD-L1 and anti- glucocorticoid-induced tumor necrosis factor receptor (GITR) antibodies, which were in pre-clinical development as of December 31, 2014."