Bank of New York Mellon Corp Increases Position in TG Therapeutics Inc. (TGTX)
Bank of New York Mellon Corp boosted its stake in shares of TG Therapeutics Inc. (NASDAQ:TGTX) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 176,637 shares of the biopharmaceutical company’s stock after buying an additional 13,749 shares during the period. Bank of New York Mellon Corp owned approximately 0.33% of TG Therapeutics worth $1,070,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Mariner Wealth Advisors LLC raised its position in shares of TG Therapeutics by 1.4% in the first quarter. Mariner Wealth Advisors LLC now owns 18,286 shares of the biopharmaceutical company’s stock valued at $156,000 after buying an additional 255 shares in the last quarter. Opaleye Management Inc. raised its position in shares of TG Therapeutics by 38.3% in the first quarter. Opaleye Management Inc. now owns 415,000 shares of the biopharmaceutical company’s stock valued at $3,536,000 after buying an additional 115,000 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of TG Therapeutics by 30.0% in the first quarter. UBS Asset Management Americas Inc. now owns 2,021,310 shares of the biopharmaceutical company’s stock valued at $17,223,000 after buying an additional 466,193 shares in the last quarter. Finally, Bridger Management LLC purchased a new position in shares of TG Therapeutics during the first quarter valued at about $28,503,000. Hedge funds and other institutional investors own 54.66% of the company’s stock.
Shares of TG Therapeutics Inc. (NASDAQ:TGTX) traded down 3.80% on Friday, hitting $6.59. The stock had a trading volume of 1,109,795 shares. The firm’s market capitalization is $358.87 million. TG Therapeutics Inc. has a 12-month low of $5.41 and a 12-month high of $14.87. The company has a 50 day moving average of $7.39 and a 200-day moving average of $7.37.
TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by $0.04. TG Therapeutics had a negative return on equity of 58.77% and a negative net margin of 40,142.11%. Equities analysts predict that TG Therapeutics Inc. will post ($1.22) EPS for the current fiscal year.
Several equities analysts recently issued reports on the company. Roth Capital restated a “buy” rating and set a $33.00 price target on shares of TG Therapeutics in a research note on Wednesday, August 10th. FBR & Co reiterated a “buy” rating on shares of TG Therapeutics in a research note on Monday, September 19th. Zacks Investment Research lowered TG Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 14th. S&P Equity Research lowered their price objective on TG Therapeutics from $7.15 to $6.40 in a research note on Wednesday, August 24th. Finally, Brean Capital reiterated a “buy” rating and issued a $28.00 price objective on shares of TG Therapeutics in a research note on Thursday, October 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.81.
About TG Therapeutics
TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for b-cell malignancies and autoimmune diseases. The Company is developing over two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the CD20 antigen found on mature B-lymphocytes.
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