Principal Financial Group Inc. Grows Stake in TG Therapeutics, Inc. (NASDAQ:TGTX)

Principal Financial Group Inc. boosted its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 1,549.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 772,188 shares of the biopharmaceutical company’s stock after purchasing an additional 725,371 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of TG Therapeutics worth $18,061,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position 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 worth $8,960,000 after buying an additional 59,523 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position 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 worth $326,000 after purchasing an additional 16,761 shares during the last quarter. Burney Co. acquired a new stake in TG Therapeutics during the 2nd quarter valued at $801,000. Commonwealth Equity Services LLC increased its position in TG Therapeutics by 1.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 186,994 shares of the biopharmaceutical company’s stock worth $3,327,000 after purchasing an additional 2,360 shares in the last quarter. Finally, nVerses Capital LLC lifted its holdings in TG Therapeutics by 34.9% in the 2nd quarter. nVerses Capital LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

TG Therapeutics Trading Up 4.2 %

Shares of TGTX stock opened at $33.50 on Friday. 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, Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $36.84. The firm’s 50 day moving average price is $30.31 and its two-hundred day moving average price is $24.36. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of -334.97 and a beta of 2.25.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. 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 EPS. The business’s revenue was down 49.4% compared to the same quarter last year. On average, analysts anticipate that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

Insider Activity

In related news, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the sale, the director now directly owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

TGTX has been the topic of several recent analyst reports. StockNews.com downgraded shares of TG Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, December 22nd. TD Cowen began coverage on TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. increased their target price on TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. HC Wainwright lifted their price target on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

About TG Therapeutics

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.