Fmr LLC Raises Stock Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Fmr LLC boosted its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 83,581.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,606 shares of the company’s stock after purchasing an additional 145,432 shares during the period. Fmr LLC owned about 0.22% of CG Oncology worth $5,494,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CGON. The Manufacturers Life Insurance Company raised its stake in shares of CG Oncology by 21.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 73,149 shares of the company’s stock worth $2,760,000 after purchasing an additional 12,848 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CG Oncology by 114.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock valued at $14,325,000 after acquiring an additional 202,262 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of CG Oncology by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 279,945 shares of the company’s stock worth $10,562,000 after purchasing an additional 13,158 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of CG Oncology in the 3rd quarter worth approximately $832,000. Finally, TimesSquare Capital Management LLC lifted its stake in CG Oncology by 27.4% in the third quarter. TimesSquare Capital Management LLC now owns 437,069 shares of the company’s stock valued at $16,491,000 after purchasing an additional 94,010 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group initiated coverage on CG Oncology in a research report on Thursday, October 24th. They set a “buy” rating and a $60.00 price target on the stock. Bank of America restated a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price target on shares of CG Oncology in a research note on Friday, December 6th. Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Roth Mkm began coverage on CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $63.88.

CG Oncology Price Performance

CGON stock opened at $28.87 on Friday. The company’s fifty day moving average price is $35.39 and its 200-day moving average price is $34.91. CG Oncology, Inc. has a one year low of $25.77 and a one year high of $50.23.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. As a group, analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $34.54, for a total transaction of $34,540.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CG Oncology Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.