First Citizens Bank & Trust Co. Raises Position in TG Therapeutics, Inc. $TGTX

First Citizens Bank & Trust Co. boosted its stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 191.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,623 shares of the biopharmaceutical company's stock after buying an additional 10,268 shares during the period. First Citizens Bank & Trust Co.'s holdings in TG Therapeutics were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TGTX. GAMMA Investing LLC lifted its holdings in TG Therapeutics by 77.7% in the first quarter. GAMMA Investing LLC now owns 4,543 shares of the biopharmaceutical company's stock worth $179,000 after buying an additional 1,986 shares during the period. Spire Wealth Management lifted its holdings in TG Therapeutics by 5,687.5% in the first quarter. Spire Wealth Management now owns 23,150 shares of the biopharmaceutical company's stock worth $913,000 after buying an additional 22,750 shares during the period. Golden State Wealth Management LLC lifted its holdings in TG Therapeutics by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 433 shares during the period. Highland Capital Management LLC purchased a new stake in TG Therapeutics in the first quarter worth about $207,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in TG Therapeutics by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 23,775 shares of the biopharmaceutical company's stock worth $898,000 after buying an additional 8,338 shares during the period. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Price Performance

Shares of NASDAQ TGTX opened at $33.33 on Friday. TG Therapeutics, Inc. has a twelve month low of $22.92 and a twelve month high of $46.48. The firm has a market cap of $5.29 billion, a P/E ratio of 90.08 and a beta of 1.97. The company has a 50 day moving average of $32.87 and a 200 day moving average of $34.95. The company has a quick ratio of 2.96, a current ratio of 3.86 and a debt-to-equity ratio of 0.89.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.15). TG Therapeutics had a return on equity of 26.05% and a net margin of 13.31%.The firm had revenue of $141.15 million during the quarter, compared to analysts' expectations of $147.76 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. TG Therapeutics's revenue was up 92.1% on a year-over-year basis. TG Therapeutics has set its FY 2025 guidance at EPS. As a group, research analysts expect that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other TG Therapeutics news, Director Sagar Lonial sold 20,852 shares of TG Therapeutics stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.24, for a total value of $672,268.48. Following the completion of the sale, the director owned 94,061 shares of the company's stock, valued at approximately $3,032,526.64. The trade was a 18.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TGTX. HC Wainwright assumed coverage on shares of TG Therapeutics in a report on Monday, October 6th. They issued a "buy" rating and a $60.00 price objective for the company. The Goldman Sachs Group upgraded shares of TG Therapeutics to a "hold" rating and set a $37.00 target price for the company in a report on Thursday, July 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of TG Therapeutics in a report on Saturday. Finally, B. Riley lifted their target price on shares of TG Therapeutics from $53.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $49.00.

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.

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