Hsbc Holdings PLC Raises Stake in TG Therapeutics, Inc. $TGTX

Key Points

• HSBC Holdings increased its stake in TG Therapeutics by 228.7% in the fourth quarter, ending with 146,087 shares valued at about $4.37 million.
• Several other institutional investors also boosted positions in the biopharmaceutical company, and 58.58% of the stock is now owned by hedge funds and other institutions.
• TG Therapeutics shares were trading around $59.06, near their 52-week high, even after the company recently reported earnings below estimates while revenue came in above expectations and rose 69.5% year over year.

Hsbc Holdings PLC raised its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 228.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,087 shares of the biopharmaceutical company's stock after acquiring an additional 101,646 shares during the period. Hsbc Holdings PLC owned about 0.09% of TG Therapeutics worth $4,374,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TGTX. Royal Bank of Canada boosted its stake in shares of TG Therapeutics by 16.4% in the 1st quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company's stock valued at $2,985,000 after purchasing an additional 10,660 shares in the last quarter. NewEdge Advisors LLC raised its position in TG Therapeutics by 9.6% in the 1st quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company's stock worth $299,000 after purchasing an additional 665 shares during the period. Goldman Sachs Group Inc. lifted its stake in TG Therapeutics by 21.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company's stock worth $75,683,000 after purchasing an additional 345,059 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in TG Therapeutics by 5.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company's stock worth $11,319,000 after purchasing an additional 14,689 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in TG Therapeutics by 86.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 573 shares during the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $83.00 price objective on shares of TG Therapeutics in a research note on Monday, June 22nd. HC Wainwright reissued a "buy" rating and issued a $70.00 target price on shares of TG Therapeutics in a research note on Monday. Bank of America increased their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a report on Tuesday. Zacks Research upgraded TG Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. Finally, Weiss Ratings raised TG Therapeutics from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.17.

TG Therapeutics Trading Up 3.2%

Shares of TGTX opened at $59.06 on Friday. The stock has a market capitalization of $9.04 billion, a P/E ratio of 20.65, a PEG ratio of 1.38 and a beta of 1.60. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $45.71 and a two-hundred day simple moving average of $36.16. TG Therapeutics, Inc. has a twelve month low of $25.28 and a twelve month high of $59.30.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.11). The firm had revenue of $204.92 million during the quarter, compared to analysts' expectations of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. TG Therapeutics's revenue was up 69.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, research analysts anticipate that TG Therapeutics, Inc. will post 1.51 EPS for the current year.

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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