Allianz Asset Management GmbH Sells 15,100 Shares of TG Therapeutics, Inc. (NASDAQ:TGTX)

Key Points

• Allianz Asset Management GmbH significantly reduced its stake in TG Therapeutics, selling 15,100 shares, representing a 68% decrease, leaving it with 7,100 shares valued at approximately $280,000.
• Despite recent changes in institutional holdings, TG Therapeutics' stock price decreased by 1.4%, opening at $35.02 with a market cap of $5.56 billion.
• The company's recent quarterly earnings report showed a 90.4% revenue increase year-over-year, but the earnings per share missed expectations, reporting $0.03 compared to the consensus of $0.19.

Allianz Asset Management GmbH cut its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 68.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,100 shares of the biopharmaceutical company's stock after selling 15,100 shares during the quarter. Allianz Asset Management GmbH's holdings in TG Therapeutics were worth $280,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Soleus Capital Management L.P. grew its stake in shares of TG Therapeutics by 5.8% during the 4th quarter. Soleus Capital Management L.P. now owns 2,681,242 shares of the biopharmaceutical company's stock worth $80,705,000 after acquiring an additional 146,702 shares in the last quarter. Northern Trust Corp raised its holdings in TG Therapeutics by 8.6% in the 4th quarter. Northern Trust Corp now owns 1,532,929 shares of the biopharmaceutical company's stock valued at $46,141,000 after acquiring an additional 120,785 shares during the period. Invesco Ltd. increased its stake in shares of TG Therapeutics by 1.2% during the fourth quarter. Invesco Ltd. now owns 929,743 shares of the biopharmaceutical company's stock worth $27,985,000 after purchasing an additional 10,989 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of TG Therapeutics by 1.3% during the first quarter. Principal Financial Group Inc. now owns 841,011 shares of the biopharmaceutical company's stock worth $33,161,000 after buying an additional 10,827 shares in the last quarter. Finally, Braun Stacey Associates Inc. raised its stake in TG Therapeutics by 13.5% in the 1st quarter. Braun Stacey Associates Inc. now owns 502,650 shares of the biopharmaceutical company's stock worth $19,819,000 after purchasing an additional 59,845 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Stock Down 1.4%

Shares of NASDAQ TGTX opened at $35.02 on Monday. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 145.92 and a beta of 1.95. The company has a current ratio of 4.02, a quick ratio of 3.04 and a debt-to-equity ratio of 1.03. TG Therapeutics, Inc. has a 12 month low of $16.65 and a 12 month high of $46.48. The stock has a 50-day moving average price of $36.83 and a two-hundred day moving average price of $36.10.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.03 earnings per share 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 analyst estimates of $117.07 million. TG Therapeutics had a net margin of 10.13% and a return on equity of 18.88%. The company's revenue was up 90.4% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. As a group, analysts forecast that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 228,816 shares in the company, valued at approximately $8,452,463.04. This represents a 4.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised TG Therapeutics to a "hold" rating and set a $37.00 price objective for the company in a report on Thursday, July 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, TG Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.80.

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.

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