PNC Financial Services Group Inc. Decreases Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

PNC Financial Services Group Inc. reduced its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 15.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,103 shares of the biopharmaceutical company’s stock after selling 1,269 shares during the period. PNC Financial Services Group Inc.’s holdings in TG Therapeutics were worth $214,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake in shares of TG Therapeutics by 0.9% in the fourth quarter. Arizona State Retirement System now owns 42,639 shares of the biopharmaceutical company’s stock valued at $1,283,000 after buying an additional 364 shares in the last quarter. Blue Trust Inc. boosted its holdings in 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 acquiring an additional 371 shares during the period. Brookstone Capital Management grew its position in TG Therapeutics by 3.7% in the fourth quarter. Brookstone Capital Management now owns 17,521 shares of the biopharmaceutical company’s stock valued at $527,000 after acquiring an additional 624 shares in the last quarter. Daymark Wealth Partners LLC grew its position in TG Therapeutics by 1.7% in the fourth quarter. Daymark Wealth Partners LLC now owns 41,500 shares of the biopharmaceutical company’s stock valued at $1,249,000 after acquiring an additional 689 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of TG Therapeutics by 1.9% during the fourth quarter. New York State Teachers Retirement System now owns 43,764 shares of the biopharmaceutical company’s stock valued at $1,317,000 after purchasing an additional 837 shares during the period. 58.58% of the stock is owned by hedge funds and other institutional investors.

TG Therapeutics Trading Up 2.6 %

NASDAQ TGTX opened at $42.99 on Monday. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of -429.86 and a beta of 2.30. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91. TG Therapeutics, Inc. has a 12 month low of $12.93 and a 12 month high of $43.15. The company’s fifty day moving average price is $33.17 and its two-hundred day moving average price is $29.74.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. The business had revenue of $108.19 million for the quarter, compared to analysts’ expectations of $100.67 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. As a group, research analysts predict that TG Therapeutics, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TG Therapeutics news, CFO Sean A. Power sold 11,337 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $30.29, for a total transaction of $343,397.73. Following the completion of the sale, the chief financial officer now owns 670,632 shares in the company, valued at $20,313,443.28. The trade was a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, November 25th. HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of TG Therapeutics in a research report on Tuesday, March 4th. Finally, StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics 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.