Bank of New York Mellon Corp Decreases Stock Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Bank of New York Mellon Corp reduced its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 6.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 135,567 shares of the company's stock after selling 9,359 shares during the period. Bank of New York Mellon Corp owned about 0.18% of CG Oncology worth $3,888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in CG Oncology in the 4th quarter worth approximately $68,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CG Oncology in the 3rd quarter worth approximately $241,000. Handelsbanken Fonder AB bought a new position in CG Oncology in the 4th quarter worth approximately $381,000. New York State Common Retirement Fund boosted 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 buying an additional 2,000 shares during the period. Finally, China Universal Asset Management Co. Ltd. bought a new position in CG Oncology in the 4th quarter worth approximately $411,000. 26.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CGON shares. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a report on Friday, January 10th. TD Cowen began coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $66.00 target price on shares of CG Oncology in a report on Friday, December 6th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $55.00 price target on shares of CG Oncology in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, CG Oncology presently has a consensus rating of "Buy" and a consensus price target of $63.88.

Remove Ads

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction that occurred 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 through this hyperlink.

CG Oncology Stock Performance

NASDAQ CGON traded down $0.70 during trading hours on Friday, hitting $27.05. 1,637,848 shares of the company's stock traded hands, compared to its average volume of 632,118. The business's fifty day moving average price is $28.08 and its two-hundred day moving average price is $32.20. CG Oncology, Inc. has a 52 week low of $23.91 and a 52 week high of $46.99.

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.