Bank of New York Mellon Corp Increases Stock Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Bank of New York Mellon Corp raised its stake in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 10.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 923,488 shares of the biopharmaceutical company's stock after purchasing an additional 87,679 shares during the period. Bank of New York Mellon Corp owned 0.59% of TG Therapeutics worth $27,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in TG Therapeutics by 24.5% in the fourth quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 371 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of TG Therapeutics during the 4th quarter valued at $75,000. GAMMA Investing LLC boosted its position in shares of TG Therapeutics by 562.4% in the 4th quarter. GAMMA Investing LLC now owns 2,557 shares of the biopharmaceutical company's stock worth $77,000 after purchasing an additional 2,171 shares in the last quarter. KBC Group NV boosted its position in shares of TG Therapeutics by 30.5% in the 3rd quarter. KBC Group NV now owns 4,675 shares of the biopharmaceutical company's stock worth $109,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in TG Therapeutics during the 3rd quarter valued at about $111,000. Hedge funds and other institutional investors own 58.58% of the company's stock.

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Insiders Place Their Bets

In other news, CFO Sean A. Power sold 10,021 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $28.53, for a total value of $285,899.13. Following the sale, the chief financial officer now owns 660,611 shares in the company, valued at $18,847,231.83. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com raised TG Therapeutics from a "sell" rating to a "hold" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their target price on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. Finally, HC Wainwright restated a "buy" rating and set a $55.00 price target on shares of TG Therapeutics in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $40.67.

TG Therapeutics Stock Performance

NASDAQ TGTX traded down $0.37 during trading hours on Wednesday, reaching $37.18. The stock had a trading volume of 1,834,536 shares, compared to its average volume of 2,620,349. TG Therapeutics, Inc. has a 52-week low of $12.93 and a 52-week high of $40.31. The stock has a fifty day moving average of $31.38 and a 200 day moving average of $28.77. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The stock has a market cap of $5.84 billion, a P/E ratio of -372.24 and a beta of 2.30.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. The firm had revenue of $108.19 million for the quarter, compared to analyst estimates of $100.67 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. Sell-side analysts predict that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

TG Therapeutics Company Profile

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.