Geode Capital Management LLC Has $40.70 Million Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Geode Capital Management LLC boosted its stake in CG Oncology, Inc. (NASDAQ:CGON) by 96.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,078,527 shares of the company’s stock after purchasing an additional 528,749 shares during the period. Geode Capital Management LLC owned about 1.61% of CG Oncology worth $40,701,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of CG Oncology by 38.4% in the second quarter. Bank of New York Mellon Corp now owns 89,344 shares of the company’s stock valued at $2,821,000 after buying an additional 24,801 shares during the period. Rhumbline Advisers lifted its holdings in CG Oncology by 13.0% in the second quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock valued at $1,081,000 after buying an additional 3,940 shares during the period. TD Asset Management Inc acquired a new stake in CG Oncology during the 2nd quarter worth about $2,939,000. Massachusetts Financial Services Co. MA grew its holdings in CG Oncology by 2.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock worth $8,422,000 after acquiring an additional 6,899 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of CG Oncology by 204.2% in the 2nd quarter. Renaissance Technologies LLC now owns 43,200 shares of the company’s stock valued at $1,364,000 after purchasing an additional 29,000 shares during the period. 26.56% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hong Fang Song sold 700,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the sale, the director now owns 3,003,931 shares of the company’s stock, valued at approximately $84,110,068. The trade was a 18.90 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

CGON has been the subject of several recent analyst reports. UBS Group assumed coverage on CG Oncology in a research note on Thursday, October 24th. They set a “buy” rating and a $60.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. Bank of America reiterated a “buy” rating and set a $65.00 price objective on shares of CG Oncology in a report on Tuesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a report on Friday, December 6th. Finally, Roth Mkm assumed coverage on shares of CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target for the company. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $63.88.

CG Oncology Price Performance

CGON opened at $28.30 on Wednesday. CG Oncology, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The company’s 50-day moving average is $34.22 and its 200 day moving average is $34.61.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.06. The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. On average, equities research analysts anticipate that CG Oncology, Inc. will post -1.32 EPS for the current fiscal year.

About CG Oncology

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.