Teacher Retirement System of Texas Acquires Shares of 11,927 CG Oncology, Inc. (NASDAQ:CGON)

Teacher Retirement System of Texas bought a new stake in CG Oncology, Inc. (NASDAQ:CGON) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 11,927 shares of the company’s stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CGON. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CG Oncology in the fourth quarter valued at approximately $68,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CG Oncology during the 3rd quarter valued at $241,000. Arizona State Retirement System bought a new stake in CG Oncology during the 4th quarter worth $340,000. Handelsbanken Fonder AB bought a new stake in CG Oncology during the 4th quarter worth $381,000. Finally, New York State Common Retirement Fund increased its holdings in CG Oncology by 16.7% in the 4th quarter. New York State Common Retirement Fund now owns 13,996 shares of the company’s stock worth $401,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Performance

Shares of NASDAQ CGON opened at $22.05 on Wednesday. CG Oncology, Inc. has a 52-week low of $21.93 and a 52-week high of $46.99. The company’s 50 day moving average price is $27.66 and its 200-day moving average price is $31.63. The company has a market capitalization of $1.68 billion, a P/E ratio of -15.53 and a beta of 1.60.

CG Oncology (NASDAQ:CGON) last released its earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.11 million. Analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

CGON has been the topic of several research reports. TD Cowen initiated coverage on CG Oncology in a report on Tuesday, January 7th. They set a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of CG Oncology in a report on Monday. Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 price target on shares of CG Oncology in a research note on Friday, March 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of CG Oncology in a research note on Friday, December 6th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $63.88.

Insider Activity at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Monday, January 13th. The shares were sold at an average price of $29.66, for a total value of $29,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.