Bank of New York Mellon Corp Cuts Stock Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Bank of New York Mellon Corp lessened its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 892,800 shares of the biopharmaceutical company’s stock after selling 30,688 shares during the period. Bank of New York Mellon Corp owned 0.56% of TG Therapeutics worth $35,203,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TGTX. Jones Financial Companies Lllp lifted its position in shares of TG Therapeutics by 460.7% during the 4th quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 1,737 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of TG Therapeutics by 65.3% during the 4th quarter. Victory Capital Management Inc. now owns 54,034 shares of the biopharmaceutical company’s stock valued at $1,626,000 after purchasing an additional 21,355 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of TG Therapeutics during the 4th quarter valued at $306,000. Raymond James Financial Inc. bought a new stake in shares of TG Therapeutics during the 4th quarter valued at $14,508,000. Finally, HighTower Advisors LLC raised its stake in shares of TG Therapeutics by 19.0% during the 4th quarter. HighTower Advisors LLC now owns 14,912 shares of the biopharmaceutical company’s stock valued at $449,000 after purchasing an additional 2,386 shares during the period. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Price Performance

Shares of TG Therapeutics stock opened at $38.92 on Tuesday. The company has a current ratio of 4.02, a quick ratio of 3.04 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $6.18 billion, a PE ratio of 162.17 and a beta of 1.91. The business’s 50-day moving average price is $36.05 and its 200-day moving average price is $35.32. TG Therapeutics, Inc. has a 12 month low of $16.65 and a 12 month high of $46.48.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.16). The firm had revenue of $120.86 million for the quarter, compared to the consensus estimate of $117.07 million. TG Therapeutics had a net margin of 10.13% and a return on equity of 18.88%. TG Therapeutics’s revenue for the quarter was up 90.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) earnings per share. Sell-side analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insider Transactions at TG Therapeutics

In related news, Director Yann Echelard sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $36.94, for a total transaction of $369,400.00. Following the transaction, the director directly owned 228,816 shares in the company, valued at $8,452,463.04. This trade represents a 4.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded TG Therapeutics to a “hold” rating and set a $37.00 price objective on the stock in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, TG Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $43.80.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. 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.