TG Therapeutics, Inc. (NASDAQ:TGTX) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in TG Therapeutics by 49.3%, selling 64,385 shares and now holding 66,303 shares valued at $2.6 million.
• Goldman Sachs has upgraded TG Therapeutics to a "hold" rating with a price target of $37.00, amidst a consensus rating of "Moderate Buy" from analysts.
• Shares of TG Therapeutics traded down 2.5% to $27.70, with a market capitalization of $4.4 billion and a reported EPS of $0.17 for the last quarter, missing estimates by $0.15.

Federated Hermes Inc. lowered its stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 49.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,303 shares of the biopharmaceutical company's stock after selling 64,385 shares during the period. Federated Hermes Inc.'s holdings in TG Therapeutics were worth $2,614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. NBC Securities Inc. raised its holdings in TG Therapeutics by 82,300.0% in the 1st quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 823 shares during the period. Golden State Wealth Management LLC increased its position in shares of TG Therapeutics by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 433 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new position in shares of TG Therapeutics during the 4th quarter worth approximately $30,000. USA Financial Formulas purchased a new position in shares of TG Therapeutics during the 1st quarter valued at approximately $57,000. Finally, Quadrant Capital Group LLC grew its stake in TG Therapeutics by 137.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,686 shares of the biopharmaceutical company's stock valued at $51,000 after acquiring an additional 975 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TG Therapeutics

In other news, Director Yann Echelard sold 10,000 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $36.94, for a total transaction of $369,400.00. Following the transaction, the director 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.64% of the company's stock.

Analyst Upgrades and Downgrades

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

TG Therapeutics Price Performance

Shares of NASDAQ TGTX traded up $0.19 during midday trading on Thursday, hitting $27.89. The stock had a trading volume of 2,481,688 shares, compared to its average volume of 2,493,785. The company has a quick ratio of 3.04, a current ratio of 4.02 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $36.42 and a 200-day simple moving average of $35.99. The company has a market capitalization of $4.43 billion, a PE ratio of 75.38 and a beta of 1.95. TG Therapeutics, Inc. has a 1 year low of $19.44 and a 1 year high of $46.48.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its earnings results on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.15). The business had revenue of $141.15 million for the quarter, compared to analysts' expectations of $147.76 million. TG Therapeutics had a return on equity of 27.83% and a net margin of 13.31%. TG Therapeutics's quarterly revenue was up 92.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 EPS. On average, sell-side analysts expect 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.