Bank of New York Mellon Corp Sells 11,104 Shares of TG Therapeutics, Inc. $TGTX

Bank of New York Mellon Corp decreased its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 887,305 shares of the biopharmaceutical company’s stock after selling 11,104 shares during the quarter. Bank of New York Mellon Corp owned 0.56% of TG Therapeutics worth $29,476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Danske Bank A S bought a new stake in TG Therapeutics in the 3rd quarter worth approximately $25,000. Hantz Financial Services Inc. boosted its stake in shares of TG Therapeutics by 82.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 560 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of TG Therapeutics by 86.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 573 shares during the period. Truvestments Capital LLC grew its holdings in shares of TG Therapeutics by 172.4% in the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 1,026 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new stake in TG Therapeutics during the fourth quarter valued at $52,000. Institutional investors own 58.58% of the company’s stock.

TG Therapeutics Price Performance

NASDAQ TGTX opened at $56.04 on Monday. The stock’s 50 day moving average is $49.02 and its 200 day moving average is $38.07. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. TG Therapeutics, Inc. has a 12 month low of $25.28 and a 12 month high of $59.30. The stock has a market cap of $8.58 billion, a PE ratio of 19.59, a P/E/G ratio of 1.40 and a beta of 1.60.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The company had revenue of $204.92 million for the quarter, compared to analysts’ expectations of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The company’s quarterly revenue was up 69.5% compared to the same quarter last year. During the same period last year, the business earned $0.03 earnings per share. Research analysts predict that TG Therapeutics, Inc. will post 1.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on TGTX shares. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Bank of America upped their target price on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Tuesday, July 7th. Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. HC Wainwright lifted their price target on shares of TG Therapeutics from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.33.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.