CG Oncology, Inc. (NASDAQ:CGON) Stock Holdings Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in CG Oncology, Inc. (NASDAQ:CGON) by 59.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,071 shares of the company’s stock after purchasing an additional 11,542 shares during the quarter. JPMorgan Chase & Co.’s holdings in CG Oncology were worth $1,172,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank raised its holdings in shares of CG Oncology by 107.6% during the third quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after buying an additional 840 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in CG Oncology during the 3rd quarter valued at $241,000. Profund Advisors LLC acquired a new position in CG Oncology during the 2nd quarter worth $300,000. HighVista Strategies LLC bought a new position in shares of CG Oncology in the third quarter worth $594,000. Finally, M&T Bank Corp increased its holdings in shares of CG Oncology by 55.7% during the third quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock valued at $632,000 after purchasing an additional 5,996 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other CG Oncology news, Director Hong Fang Song sold 700,000 shares of CG Oncology stock in a transaction dated 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 transaction, the director now owns 3,003,931 shares of the company’s stock, valued at $84,110,068. The trade was a 18.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The disclosure for this sale can be found here. Insiders have sold 702,000 shares of company stock worth $19,664,200 over the last 90 days.

Analyst Ratings Changes

CGON has been the subject of a number of recent analyst reports. Bank of America reiterated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Friday, January 10th. UBS Group initiated coverage on CG Oncology in a research report on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price for the company. TD Cowen initiated coverage on CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price objective on shares of CG Oncology in a report on Friday, December 6th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CG Oncology presently has an average rating of “Buy” and a consensus price target of $63.88.

CG Oncology Stock Up 0.1 %

Shares of CG Oncology stock opened at $30.79 on Friday. CG Oncology, Inc. has a 12-month low of $25.77 and a 12-month high of $50.23. The stock’s fifty day moving average is $30.92 and its 200-day moving average is $34.10.

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