Geode Capital Management LLC Reduces Stock Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

Geode Capital Management LLC lessened its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 0.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,205,228 shares of the biopharmaceutical company’s stock after selling 1,162 shares during the period. Geode Capital Management LLC owned approximately 2.06% of TG Therapeutics worth $74,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TGTX. Bank of New York Mellon Corp lifted its holdings in shares of TG Therapeutics by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 503,645 shares of the biopharmaceutical company’s stock valued at $8,960,000 after buying an additional 59,523 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of TG Therapeutics by 1,080.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 18,313 shares of the biopharmaceutical company’s stock valued at $326,000 after purchasing an additional 16,761 shares in the last quarter. Iridian Asset Management LLC CT acquired a new position in shares of TG Therapeutics in the 2nd quarter valued at $700,000. Burney Co. purchased a new stake in TG Therapeutics during the second quarter worth $801,000. Finally, Principal Financial Group Inc. grew its position in TG Therapeutics by 32.3% during the second quarter. Principal Financial Group Inc. now owns 46,817 shares of the biopharmaceutical company’s stock valued at $833,000 after buying an additional 11,443 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other TG Therapeutics news, Director Sagar Lonial sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.44, for a total transaction of $152,200.00. Following the transaction, the director now owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 10.50% of the company’s stock.

TG Therapeutics Trading Up 4.0 %

Shares of TGTX opened at $32.20 on Friday. TG Therapeutics, Inc. has a 52-week low of $12.84 and a 52-week high of $36.84. The stock has a market cap of $5.01 billion, a PE ratio of -321.97 and a beta of 2.25. The firm’s fifty day moving average is $29.42 and its two-hundred day moving average is $23.79. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The business had revenue of $83.90 million for the quarter, compared to analyst estimates of $81.68 million. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The business’s revenue was down 49.4% compared to the same quarter last year. Research analysts forecast that TG Therapeutics, Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on TGTX shares. TD Cowen assumed coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective for the company. The Goldman Sachs Group boosted their price objective on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. StockNews.com upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, December 14th. JPMorgan Chase & Co. boosted their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, HC Wainwright increased their price objective on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, TG Therapeutics currently 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.