M&T Bank Corp Buys Shares of 125,789 TG Therapeutics, Inc. $TGTX

Key Points

• M&T Bank Corp bought 125,789 shares of TG Therapeutics in Q4, valued at about $3.75 million and representing roughly 0.08% of the company.
• Several institutions have been adding stakes—most notably Congress Asset Management's new ~ $57.3 million position—and institutional investors now own about 58.58% of the stock.
• Analysts are mixed but the consensus is a “Moderate Buy” with a $50 price target; TG Therapeutics recently missed EPS estimates ($0.14 vs. $0.35) despite strong revenue growth and a market cap near $5.85 billion.

M&T Bank Corp bought a new stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 125,789 shares of the biopharmaceutical company's stock, valued at approximately $3,750,000. M&T Bank Corp owned about 0.08% of TG Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Congress Asset Management Co. purchased a new position in shares of TG Therapeutics during the fourth quarter worth approximately $57,307,000. Nordea Investment Management AB purchased a new position in shares of TG Therapeutics during the fourth quarter worth approximately $2,356,000. Penn Capital Management Company LLC raised its stake in shares of TG Therapeutics by 17.6% during the third quarter. Penn Capital Management Company LLC now owns 521,260 shares of the biopharmaceutical company's stock worth $18,877,000 after acquiring an additional 77,895 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of TG Therapeutics by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 529,271 shares of the biopharmaceutical company's stock worth $19,120,000 after buying an additional 66,911 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of TG Therapeutics by 56.1% in the third quarter. JPMorgan Chase & Co. now owns 227,934 shares of the biopharmaceutical company's stock worth $8,234,000 after buying an additional 81,907 shares during the period. 58.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TGTX has been the topic of several analyst reports. Wall Street Zen downgraded shares of TG Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. The Goldman Sachs Group lifted their target price on shares of TG Therapeutics from $37.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. decreased their target price on shares of TG Therapeutics from $49.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, February 2nd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of TG Therapeutics in a research note on Wednesday, January 14th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of TG Therapeutics in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, TG Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

TG Therapeutics Stock Performance

Shares of TG Therapeutics stock opened at $36.62 on Monday. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 13.22 and a beta of 1.76. The firm's 50-day moving average is $31.69 and its 200 day moving average is $31.48. TG Therapeutics, Inc. has a 1 year low of $25.28 and a 1 year high of $46.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.10 and a quick ratio of 3.29.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.21). The firm had revenue of $192.57 million during the quarter, compared to the consensus estimate of $192.15 million. TG Therapeutics had a return on equity of 101.12% and a net margin of 72.56%.The business's revenue for the quarter was up 78.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. Sell-side analysts anticipate that TG Therapeutics, Inc. will post 1.35 EPS for the current fiscal year.

TG Therapeutics Company Profile

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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