TG Therapeutics, Inc. (NASDAQ:TGTX) Stock Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 3.3% in the 1st quarter, according to its most recent filing with the SEC. The fund 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 0.56% of TG Therapeutics worth $35,203,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its stake in TG Therapeutics by 1.3% in the first quarter. Principal Financial Group Inc. now owns 841,011 shares of the biopharmaceutical company's stock worth $33,161,000 after purchasing an additional 10,827 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of TG Therapeutics by 175.0% in the 1st quarter. New York State Teachers Retirement System now owns 120,364 shares of the biopharmaceutical company's stock worth $4,746,000 after acquiring an additional 76,600 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of TG Therapeutics by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 23,775 shares of the biopharmaceutical company's stock worth $898,000 after acquiring an additional 8,338 shares in the last quarter. Highland Capital Management LLC bought a new stake in shares of TG Therapeutics in the 1st quarter valued at approximately $207,000. Finally, 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 valued at $34,000 after acquiring an additional 433 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Stock Performance

Shares of TG Therapeutics stock traded down $1.18 during trading on Friday, hitting $38.01. 996,276 shares of the stock were exchanged, compared to its average volume of 2,849,704. The stock has a market cap of $6.03 billion, a PE ratio of 158.45 and a beta of 1.91. The stock's fifty day moving average is $36.33 and its 200 day moving average is $35.46. TG Therapeutics, Inc. has a 12 month low of $16.65 and a 12 month high of $46.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.04 and a current ratio of 4.02.

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

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised shares of TG Therapeutics to a "hold" rating and set a $37.00 target price 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.80.

Insider Activity at TG Therapeutics

In related news, Director Yann Echelard sold 10,000 shares of the stock in a transaction dated 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 owned 228,816 shares in the company, valued at $8,452,463.04. This represents a 4.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 10.64% of the company's stock.

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.