State Street Corp Raises Stake in CG Oncology, Inc. (NASDAQ:CGON)

State Street Corp raised its position in CG Oncology, Inc. (NASDAQ:CGON) by 73.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,700,653 shares of the company’s stock after purchasing an additional 717,722 shares during the period. State Street Corp owned 2.54% of CG Oncology worth $64,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ally Bridge Group NY LLC lifted its stake in CG Oncology by 50.5% during the third quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company’s stock worth $9,933,000 after purchasing an additional 88,390 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 worth $14,325,000 after buying an additional 202,262 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of CG Oncology by 876.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock valued at $1,006,000 after buying an additional 23,931 shares in the last quarter. Deerfield Management Company L.P. Series C grew its position in shares of CG Oncology by 811.9% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock valued at $13,687,000 after buying an additional 386,000 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in CG Oncology during the 2nd quarter worth $1,912,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price objective on shares of CG Oncology in a research note on Friday, December 6th. UBS Group started 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. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America restated a “buy” rating and set a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Finally, Roth Mkm initiated coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price target for the company. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $63.88.

CG Oncology Trading Down 2.8 %

NASDAQ:CGON opened at $28.45 on Thursday. The firm’s fifty day moving average price is $34.99 and its 200 day moving average price is $34.86. CG Oncology, Inc. has a 1-year low of $25.77 and a 1-year high of $50.23.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate 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 net margin of 10,642.98% and a negative return on equity of 18.97%. Research analysts expect that CG Oncology, Inc. will post -1.32 EPS for the current year.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hong Fang Song sold 700,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the completion of the transaction, the director now owns 3,003,931 shares of the company’s stock, valued at $84,110,068. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here.

CG Oncology Company 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.