Fifth Third Bancorp Grows Stock Position in TG Therapeutics, Inc. $TGTX

Key Points

• Fifth Third Bancorp dramatically increased its stake in TG Therapeutics by 4,186% in the first quarter, ending with 31,759 shares valued at about $1.06 million.
• Several other institutional investors also boosted holdings, and 58.58% of TG Therapeutics is now owned by hedge funds and other institutions.
• The company recently reported mixed quarterly results: revenue rose 69.5% year over year to $204.9 million, but EPS of $0.12 missed analyst expectations of $0.23.

Fifth Third Bancorp lifted its position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 4,186.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,759 shares of the biopharmaceutical company's stock after acquiring an additional 31,018 shares during the period. Fifth Third Bancorp's holdings in TG Therapeutics were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Man Group plc raised its stake in TG Therapeutics by 621.5% in the 3rd quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company's stock valued at $36,431,000 after purchasing an additional 868,697 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in TG Therapeutics by 856.6% during the 4th quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company's stock worth $20,380,000 after purchasing an additional 612,189 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in TG Therapeutics by 35.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company's stock worth $61,144,000 after purchasing an additional 531,759 shares during the last quarter. Invesco Ltd. grew its holdings in shares of TG Therapeutics by 47.1% during the fourth quarter. Invesco Ltd. now owns 1,609,815 shares of the biopharmaceutical company's stock worth $47,989,000 after buying an additional 515,481 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of TG Therapeutics by 1,725.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 472,787 shares of the biopharmaceutical company's stock worth $14,094,000 after buying an additional 446,884 shares in the last quarter. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Stock Performance

NASDAQ TGTX opened at $56.04 on Friday. The stock's fifty day moving average is $49.02 and its two-hundred day moving average is $38.02. The firm has a market capitalization of $8.58 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 1.40 and a beta of 1.60. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81. TG Therapeutics, Inc. has a fifty-two week low of $25.28 and a fifty-two week high of $59.30.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.11). TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The company had revenue of $204.92 million during the quarter, compared to analysts' expectations of $200.33 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The firm's quarterly revenue was up 69.5% compared to the same quarter last year. On average, research analysts anticipate that TG Therapeutics, Inc. will post 1.46 earnings per share for the current year.

Analyst Ratings Changes

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

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.

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