Geode Capital Management LLC Sells 40,053 Shares of TG Therapeutics, Inc. $TGTX

Geode Capital Management LLC reduced its position in TG Therapeutics, Inc. (NASDAQ:TGTX) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,403,866 shares of the biopharmaceutical company’s stock after selling 40,053 shares during the quarter. Geode Capital Management LLC’s holdings in TG Therapeutics were worth $101,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in TG Therapeutics by 1.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 441 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of TG Therapeutics by 21.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,693 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 467 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of TG Therapeutics by 117.1% in the 3rd quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 486 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of TG Therapeutics by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,062 shares of the biopharmaceutical company’s stock worth $926,000 after buying an additional 500 shares in the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of TG Therapeutics by 3.9% in the 3rd quarter. Lido Advisors LLC now owns 14,276 shares of the biopharmaceutical company’s stock worth $516,000 after buying an additional 541 shares in the last quarter. 58.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen cut TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of TG Therapeutics in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.50.

TG Therapeutics Trading Down 1.0%

Shares of TGTX opened at $40.16 on Friday. The stock has a market cap of $6.15 billion, a PE ratio of 14.04 and a beta of 1.68. TG Therapeutics, Inc. has a 1 year low of $25.28 and a 1 year high of $44.65. The stock has a 50 day simple moving average of $37.05 and a 200-day simple moving average of $32.59. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The business had revenue of $204.92 million for the quarter, compared to the consensus estimate of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The firm’s revenue was up 69.5% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. On average, sell-side analysts predict that TG Therapeutics, Inc. will post 1.51 EPS for the current fiscal year.

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.