Vanguard Group Inc. Lowers Stock Position in TG Therapeutics, Inc. $TGTX

Vanguard Group Inc. decreased its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,521,299 shares of the biopharmaceutical company’s stock after selling 288,018 shares during the period. Vanguard Group Inc. owned approximately 9.78% of TG Therapeutics worth $560,707,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its stake in TG Therapeutics by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 529,271 shares of the biopharmaceutical company’s stock valued at $19,120,000 after purchasing an additional 66,911 shares in the last quarter. Jump Financial LLC boosted its position in TG Therapeutics by 551.8% during the second quarter. Jump Financial LLC now owns 320,022 shares of the biopharmaceutical company’s stock worth $11,518,000 after purchasing an additional 270,922 shares in the last quarter. Marex Group plc purchased a new stake in TG Therapeutics during the second quarter worth $10,017,000. Yorktown Management & Research Co Inc acquired a new stake in TG Therapeutics in the second quarter valued at $383,000. Finally, Norges Bank purchased a new position in shares of TG Therapeutics in the second quarter valued at $3,233,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Trading Down 0.2%

Shares of TGTX stock opened at $30.51 on Wednesday. The firm’s 50-day simple moving average is $29.88 and its 200-day simple moving average is $31.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.82 and a quick ratio of 2.89. TG Therapeutics, Inc. has a 1-year low of $25.28 and a 1-year high of $46.48. The firm has a market cap of $4.84 billion, a P/E ratio of 10.97 and a beta of 1.85.

Analysts Set New Price Targets

Several brokerages have issued reports on TGTX. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TG Therapeutics in a report on Monday, December 29th. Wall Street Zen lowered TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of TG Therapeutics in a research report on Wednesday, January 14th. The Goldman Sachs Group upped their price objective on TG Therapeutics from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. Finally, B. Riley Financial upgraded TG Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

About TG Therapeutics

TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.