Bank of New York Mellon Corp Has $35.20 Million Stake in TG Therapeutics, Inc. (NASDAQ:TGTX)

Bank of New York Mellon Corp reduced its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 approximately 0.56% of TG Therapeutics worth $35,203,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its position in shares of TG Therapeutics by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 433 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in TG Therapeutics by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,606 shares of the biopharmaceutical company's stock worth $440,000 after acquiring an additional 463 shares during the last quarter. NBC Securities Inc. raised its holdings in TG Therapeutics by 82,300.0% in the first quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 823 shares during the period. Redwood Investments LLC lifted its holdings in shares of TG Therapeutics by 0.9% during the 4th quarter. Redwood Investments LLC now owns 94,554 shares of the biopharmaceutical company's stock valued at $2,846,000 after acquiring an additional 886 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of TG Therapeutics by 137.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,686 shares of the biopharmaceutical company's stock worth $51,000 after buying an additional 975 shares during the period. Institutional investors and hedge funds own 58.58% of the company's stock.

Insider Activity

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $36.94, for a total transaction of $369,400.00. Following the completion of the sale, the director directly owned 228,816 shares of the company's stock, valued at approximately $8,452,463.04. The trade was a 4.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 10.64% of the company's stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised shares of TG Therapeutics to a "hold" rating and set a $37.00 price target on the stock in a report 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. Based on data from MarketBeat, TG Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $43.80.

TG Therapeutics Stock Performance

Shares of TGTX stock traded down $0.96 during trading hours on Tuesday, reaching $37.96. 1,508,165 shares of the company's stock were exchanged, compared to its average volume of 2,866,329. The business has a fifty day moving average price of $36.05 and a 200-day moving average price of $35.32. The stock has a market capitalization of $6.03 billion, a P/E ratio of 158.17 and a beta of 1.91. The company has a quick ratio of 3.04, a current ratio of 4.02 and a debt-to-equity ratio of 1.03. TG Therapeutics, Inc. has a fifty-two week low of $16.65 and a fifty-two week high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.16). TG Therapeutics had a net margin of 10.13% and a return on equity of 18.88%. The firm had revenue of $120.86 million for the quarter, compared to the consensus estimate of $117.07 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The company's revenue was up 90.4% on a year-over-year basis. Analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

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.