PNC Financial Services Group Inc. Acquires 1,916 Shares of TG Therapeutics, Inc. (NASDAQ:TGTX)

PNC Financial Services Group Inc. boosted its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 27.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,019 shares of the biopharmaceutical company’s stock after acquiring an additional 1,916 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TG Therapeutics were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. NBC Securities Inc. grew its holdings in TG Therapeutics by 82,300.0% during the first quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 823 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in TG Therapeutics by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 433 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new position in TG Therapeutics during the fourth quarter valued at approximately $30,000. USA Financial Formulas acquired a new position in TG Therapeutics during the first quarter valued at approximately $57,000. Finally, CWM LLC grew its holdings in TG Therapeutics by 16.2% during the first quarter. CWM LLC now owns 2,085 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 58.58% of the company’s stock.

Insider Activity

In other news, Director Yann Echelard sold 10,000 shares of the firm’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $36.94, for a total value of $369,400.00. Following the sale, the director owned 228,816 shares in the company, valued at approximately $8,452,463.04. This trade represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.64% of the company’s stock.

TG Therapeutics Trading Up 1.1%

Shares of TG Therapeutics stock opened at $28.08 on Friday. The company’s fifty day simple moving average is $35.07 and its 200-day simple moving average is $35.83. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 75.89 and a beta of 1.95. The company has a current ratio of 3.86, a quick ratio of 3.04 and a debt-to-equity ratio of 0.89. TG Therapeutics, Inc. has a 1 year low of $20.81 and a 1 year high of $46.48.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.15). The company had revenue of $141.15 million during the quarter, compared to analyst estimates of $147.76 million. TG Therapeutics had a return on equity of 26.05% and a net margin of 13.31%. The company’s revenue was up 92.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.04 EPS. As a group, sell-side analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded TG Therapeutics to a “hold” rating and set a $37.00 price target on the stock in a report on Thursday, July 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.25.

TG Therapeutics Company Profile

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.