Hsbc Holdings PLC trimmed its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX – Free Report) by 27.2% during the first quarter, Holdings Channel.com reports. The firm owned 106,344 shares of the biopharmaceutical company’s stock after selling 39,743 shares during the period. Hsbc Holdings PLC’s holdings in TG Therapeutics were worth $3,557,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of TGTX. Vanguard Group Inc. grew its stake in shares of TG Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock valued at $472,220,000 after purchasing an additional 319,703 shares during the last quarter. State Street Corp raised its position in TG Therapeutics by 4.7% in the 4th quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock worth $252,789,000 after purchasing an additional 379,380 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in TG Therapeutics by 35.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock worth $61,144,000 after buying an additional 531,759 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of TG Therapeutics by 19.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company’s stock valued at $58,048,000 after buying an additional 286,325 shares during the period. Finally, Invesco Ltd. increased its stake in shares of TG Therapeutics by 47.1% in the 4th quarter. Invesco Ltd. now owns 1,609,815 shares of the biopharmaceutical company’s stock valued at $47,989,000 after buying an additional 515,481 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.
TG Therapeutics Stock Performance
Shares of TG Therapeutics stock opened at $56.04 on Friday. The firm has a fifty day moving average of $49.02 and a two-hundred day moving average of $38.02. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.39 and a beta of 1.60. TG Therapeutics, Inc. has a 52 week low of $25.28 and a 52 week high of $59.30. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on TGTX. Bank of America upped their price target on TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a research note on Tuesday, July 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $83.00 price objective on shares of TG Therapeutics in a research report on Monday, June 22nd. Weiss Ratings raised TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. HC Wainwright upped their target price on shares of TG Therapeutics from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.33.
Read Our Latest Report on TGTX
TG Therapeutics Profile
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.
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