Federated Hermes Inc. Sells 1,652,558 Shares of TG Therapeutics, Inc. (NASDAQ:TGTX)

Federated Hermes Inc. reduced its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX – Get Rating) by 73.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 582,421 shares of the biopharmaceutical company’s stock after selling 1,652,558 shares during the quarter. Federated Hermes Inc. owned approximately 0.40% of TG Therapeutics worth $3,449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its stake in TG Therapeutics by 47.8% in the 2nd quarter. State Street Corp now owns 14,235,263 shares of the biopharmaceutical company’s stock valued at $60,500,000 after buying an additional 4,606,679 shares during the last quarter. Vanguard Group Inc. increased its position in shares of TG Therapeutics by 0.3% in the first quarter. Vanguard Group Inc. now owns 12,130,963 shares of the biopharmaceutical company’s stock valued at $115,366,000 after acquiring an additional 39,526 shares during the last quarter. BlackRock Inc. raised its holdings in TG Therapeutics by 0.4% during the first quarter. BlackRock Inc. now owns 8,935,578 shares of the biopharmaceutical company’s stock worth $84,978,000 after acquiring an additional 33,413 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in TG Therapeutics during the second quarter worth about $11,379,000. Finally, Parkwood LLC grew its stake in TG Therapeutics by 3,015.0% in the third quarter. Parkwood LLC now owns 1,469,283 shares of the biopharmaceutical company’s stock valued at $10,696,000 after purchasing an additional 1,422,115 shares in the last quarter. 68.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TG Therapeutics news, Director Laurence N. Charney sold 30,000 shares of TG Therapeutics stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $11.10, for a total value of $333,000.00. Following the completion of the transaction, the director now directly owns 234,729 shares of the company’s stock, valued at approximately $2,605,491.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Yann Echelard purchased 9,000 shares of TG Therapeutics stock in a transaction that occurred on Friday, January 6th. The shares were acquired at an average price of $10.64 per share, for a total transaction of $95,760.00. Following the transaction, the director now owns 201,848 shares of the company’s stock, valued at approximately $2,147,662.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laurence N. Charney sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $11.10, for a total transaction of $333,000.00. Following the transaction, the director now owns 234,729 shares of the company’s stock, valued at $2,605,491.90. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by company insiders.

TG Therapeutics Stock Performance

Shares of NASDAQ:TGTX opened at $16.73 on Friday. TG Therapeutics, Inc. has a 12-month low of $3.48 and a 12-month high of $19.59. The company’s 50 day moving average price is $15.23 and its two-hundred day moving average price is $9.89. The firm has a market cap of $2.45 billion, a PE ratio of -11.46 and a beta of 2.08. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 1.21.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TGTX. Evercore ISI upped their price objective on TG Therapeutics from $16.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 24th. Bank of America raised their target price on shares of TG Therapeutics from $5.00 to $6.00 and gave the stock an “underperform” rating in a research note on Thursday, December 29th. The Goldman Sachs Group increased their price target on shares of TG Therapeutics from $4.00 to $6.00 and gave the company a “sell” rating in a report on Friday, December 30th. Cantor Fitzgerald boosted their price objective on TG Therapeutics from $18.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, February 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $24.00 target price on shares of TG Therapeutics in a research note on Wednesday, March 1st. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.00.

About TG Therapeutics

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TG Therapeutics, Inc engages in the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Its product pipeline includes TG-1501, TG-1701, Ublituximab, and Umbralisib. The company was founded by Michael Sean Weiss and Laurence H. Shaw on May 18, 1993 and is headquartered in New York, NY.