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

Bank of New York Mellon Corp boosted its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 about 0.59% of TG Therapeutics worth $27,797,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. grew its position in shares of TG Therapeutics by 24.5% in the 4th quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 371 shares during the last quarter. Synergy Asset Management LLC bought a new stake in shares of TG Therapeutics in the 4th quarter worth approximately $75,000. GAMMA Investing LLC grew 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 buying an additional 2,171 shares during the last quarter. KBC Group NV grew 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 buying an additional 1,092 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of TG Therapeutics in the 3rd quarter worth approximately $111,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

TG Therapeutics Stock Up 9.2 %

TG Therapeutics stock opened at $38.44 on Friday. The stock has a market cap of $5.98 billion, a PE ratio of -384.36 and a beta of 2.30. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. TG Therapeutics, Inc. has a one year low of $12.93 and a one year high of $38.58. The stock has a fifty day moving average of $31.07 and a 200 day moving average of $28.55.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $108.19 million during the quarter, compared to analysts’ expectations of $100.67 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. As a group, sell-side analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

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 completion of the transaction, the chief financial officer now owns 660,611 shares of the company’s stock, valued at $18,847,231.83. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 10.50% of the company’s stock.

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.