Mirae Asset Global Investments Co. Ltd. Buys Shares of 2,254 CG Oncology, Inc. (NASDAQ:CGON)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CG Oncology, Inc. (NASDAQ:CGON) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,254 shares of the company’s stock, valued at approximately $68,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of CG Oncology by 73.0% in the 3rd quarter. State Street Corp now owns 1,700,653 shares of the company’s stock worth $64,166,000 after buying an additional 717,722 shares in the last quarter. Point72 Asset Management L.P. raised its position in CG Oncology by 575.7% in the third quarter. Point72 Asset Management L.P. now owns 746,063 shares of the company’s stock worth $28,149,000 after acquiring an additional 635,653 shares in the last quarter. Geode Capital Management LLC lifted its holdings in CG Oncology by 96.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company’s stock valued at $40,701,000 after acquiring an additional 528,749 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of CG Oncology by 153.4% during the 3rd quarter. Wellington Management Group LLP now owns 510,219 shares of the company’s stock valued at $19,251,000 after purchasing an additional 308,852 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 purchasing an additional 202,262 shares in the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Stock Up 0.1 %

CGON opened at $28.52 on Friday. The business has a 50-day moving average of $29.54 and a 200-day moving average of $33.55. CG Oncology, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $50.23.

CG Oncology (NASDAQ:CGON) last announced its quarterly 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. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. As a group, sell-side analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Hong Fang Song sold 700,000 shares of the company’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 completion of the transaction, the director now directly owns 3,003,931 shares in the company, valued at $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $34.54, for a total transaction of $34,540.00. The disclosure for this sale can be found here. Insiders have sold 702,000 shares of company stock valued at $19,664,200 over the last three months.

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.