Pictet Asset Management Holding SA Trims Stock Position in TG Therapeutics, Inc. $TGTX

Key Points

• Pictet Asset Management trimmed its TG Therapeutics stake by 9.2% in Q4, leaving 1,461,048 shares (about 0.92% of the company) valued at roughly $43.55M.
• Vanguard increased its holding to 15,841,002 shares (≈$472.22M), and institutional investors now own 58.58% of the stock.
• TG Therapeutics has a market cap of $5.36B and reported an EPS miss ($0.14 vs. $0.35 expected) while revenue rose 78% year-over-year to $192.57M; analysts' consensus is a “Moderate Buy” with an average target of $50.00.

Pictet Asset Management Holding SA lowered its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 9.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,461,048 shares of the biopharmaceutical company's stock after selling 148,503 shares during the period. Pictet Asset Management Holding SA owned about 0.92% of TG Therapeutics worth $43,554,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of TG Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company's stock valued at $472,220,000 after buying an additional 319,703 shares during the last quarter. HB Wealth Management LLC increased its holdings in TG Therapeutics by 17.7% in the fourth quarter. HB Wealth Management LLC now owns 7,039 shares of the biopharmaceutical company's stock valued at $210,000 after buying an additional 1,060 shares in the last quarter. M&T Bank Corp purchased a new position in TG Therapeutics in the fourth quarter valued at $3,750,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in TG Therapeutics by 6.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,393 shares of the biopharmaceutical company's stock valued at $995,000 after buying an additional 1,987 shares in the last quarter. Finally, PFG Investments LLC purchased a new position in TG Therapeutics in the fourth quarter valued at $254,000. Hedge funds and other institutional investors own 58.58% of the company's stock.

TG Therapeutics Price Performance

Shares of NASDAQ TGTX opened at $33.58 on Thursday. The firm has a market cap of $5.36 billion, a PE ratio of 12.12 and a beta of 1.76. The firm has a fifty day moving average of $32.02 and a 200 day moving average of $31.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.29 and a current ratio of 4.10. TG Therapeutics, Inc. has a one year low of $25.28 and a one year high of $46.48.

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

Analyst Upgrades and Downgrades

TGTX has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of TG Therapeutics in a report on Wednesday, January 14th. JPMorgan Chase & Co. cut their price objective on shares of TG Therapeutics from $49.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, February 2nd. The Goldman Sachs Group lifted their price objective on shares of TG Therapeutics from $37.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, January 15th. Finally, Wall Street Zen cut shares of TG Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

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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