Bank of New York Mellon Corp Reduces Stake in TG Therapeutics, Inc. $TGTX

Bank of New York Mellon Corp reduced its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 1.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (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’s holdings in TG Therapeutics were worth $29,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Danske Bank A S bought a new stake in shares of TG Therapeutics in the 3rd quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its holdings 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 purchasing an additional 560 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of TG Therapeutics by 86.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 573 shares during the last quarter. Truvestments Capital LLC raised its stake 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 valued at $48,000 after acquiring an additional 1,026 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of TG Therapeutics in the fourth quarter valued at $52,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

TG Therapeutics Price Performance

TGTX opened at $56.04 on Monday. TG Therapeutics, Inc. has a 12-month low of $25.28 and a 12-month high of $59.30. The business’s fifty day simple moving average is $49.02 and its 200-day simple moving average is $38.07. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.40 and a beta of 1.60. 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 (NASDAQ:TGTX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The business 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 revenue for the quarter was up 69.5% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. On average, equities research analysts anticipate that TG Therapeutics, Inc. will post 1.46 earnings per share for the current fiscal year.

About TG Therapeutics

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.