US Bancorp DE cut its stake in TG Therapeutics, Inc. (NASDAQ:TGTX – Free Report) by 89.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,350 shares of the biopharmaceutical company’s stock after selling 20,348 shares during the period. US Bancorp DE’s holdings in TG Therapeutics were worth $35,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in TG Therapeutics in the first quarter worth $25,000. Belpointe Asset Management LLC bought a new position in shares of TG Therapeutics in the fourth quarter worth $25,000. Lazard Asset Management LLC bought a new position in shares of TG Therapeutics in the first quarter worth $60,000. CI Investments Inc. grew its stake in shares of TG Therapeutics by 287.7% in the fourth quarter. CI Investments Inc. now owns 9,110 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 6,760 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. bought a new position in shares of TG Therapeutics in the first quarter worth $150,000. 57.92% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other TG Therapeutics news, Director Sagar Lonial sold 34,854 shares of TG Therapeutics stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $23.37, for a total transaction of $814,537.98. Following the transaction, the director now directly owns 93,878 shares in the company, valued at approximately $2,193,928.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other TG Therapeutics news, Director Sagar Lonial sold 34,854 shares of TG Therapeutics stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $23.37, for a total transaction of $814,537.98. Following the transaction, the director now directly owns 93,878 shares in the company, valued at approximately $2,193,928.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael S. Weiss acquired 100,000 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $10.13 per share, for a total transaction of $1,013,000.00. Following the completion of the transaction, the chief executive officer now owns 12,073,021 shares in the company, valued at approximately $122,299,702.73. The disclosure for this purchase can be found here. Corporate insiders own 9.20% of the company’s stock.
TG Therapeutics Trading Up 1.3 %
TG Therapeutics (NASDAQ:TGTX – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). TG Therapeutics had a negative return on equity of 309.58% and a negative net margin of 730.34%. The business had revenue of $16.07 million during the quarter, compared to analyst estimates of $17.39 million. During the same quarter last year, the firm posted ($0.30) EPS. The company’s quarterly revenue was up 2606.1% compared to the same quarter last year. On average, research analysts predict that TG Therapeutics, Inc. will post -0.72 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on TG Therapeutics from $34.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, August 7th. StockNews.com cut TG Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 27th. HC Wainwright lifted their target price on TG Therapeutics from $34.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. The Goldman Sachs Group raised TG Therapeutics from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $12.00 in a report on Wednesday, August 2nd. Finally, B. Riley reaffirmed a “buy” rating and set a $32.00 target price (down from $42.00) on shares of TG Therapeutics in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, TG Therapeutics currently has an average rating of “Hold” and an average target price of $23.14.
About TG Therapeutics
TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell diseases. 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.
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