Principal Financial Group Inc. Sells 182,261 Shares of TG Therapeutics, Inc. $TGTX

Principal Financial Group Inc. cut its position in TG Therapeutics, Inc. (NASDAQ:TGTX) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 665,526 shares of the biopharmaceutical company’s stock after selling 182,261 shares during the period. Principal Financial Group Inc. owned 0.42% of TG Therapeutics worth $22,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TGTX. Vanguard Group Inc. boosted its holdings in TG Therapeutics by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock worth $472,220,000 after acquiring an additional 319,703 shares in the last quarter. State Street Corp increased its holdings in shares of TG Therapeutics by 4.7% during the fourth quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock valued at $252,789,000 after acquiring an additional 379,380 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of TG Therapeutics by 35.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock worth $61,144,000 after purchasing an additional 531,759 shares during the period. Congress Asset Management Co. acquired a new position in shares of TG Therapeutics during the fourth quarter worth approximately $57,307,000. Finally, Pictet Asset Management Holding SA lifted its holdings 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 worth $58,048,000 after purchasing an additional 286,325 shares in the last quarter. 58.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $83.00 price target on shares of TG Therapeutics in a research report on Monday, June 22nd. Bank of America upped their price objective on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a report on Tuesday, July 7th. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. HC Wainwright boosted their target price on shares of TG Therapeutics from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

TG Therapeutics Stock Down 0.0%

Shares of NASDAQ:TGTX opened at $53.95 on Wednesday. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.35 and a beta of 1.60. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28. TG Therapeutics, Inc. has a 12-month low of $25.28 and a 12-month high of $59.30. The business’s 50 day moving average is $48.19 and its 200 day moving average is $37.54.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.11). TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The company had revenue of $204.92 million for the quarter, compared to the consensus estimate of $200.33 million. During the same quarter last year, the company posted $0.03 EPS. The company’s quarterly revenue was up 69.5% compared to the same quarter last year. On average, sell-side analysts forecast that TG Therapeutics, Inc. will post 1.46 earnings per share 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.