TimesSquare Capital Management LLC Purchases 94,010 Shares of CG Oncology, Inc. (NASDAQ:CGON)

TimesSquare Capital Management LLC increased its stake in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 27.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 437,069 shares of the company's stock after acquiring an additional 94,010 shares during the quarter. TimesSquare Capital Management LLC owned about 0.65% of CG Oncology worth $16,491,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CGON. BNP Paribas Financial Markets acquired a new position in shares of CG Oncology in the 1st quarter worth approximately $492,000. Vanguard Group Inc. bought a new stake in CG Oncology during the first quarter valued at $97,678,000. Ameritas Investment Partners Inc. acquired a new stake in CG Oncology during the 1st quarter worth about $102,000. American International Group Inc. bought a new position in shares of CG Oncology in the 1st quarter worth about $13,443,000. Finally, Decheng Capital LLC acquired a new position in shares of CG Oncology in the 1st quarter valued at about $239,642,000. 26.56% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the sale, the director now directly owns 586,982 shares in the company, valued at approximately $20,755,683.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

Several research firms recently commented on CGON. Roth Mkm initiated coverage on CG Oncology in a research note on Tuesday, August 27th. They set a "buy" rating and a $65.00 target price for the company. Bank of America reissued a "buy" rating and set a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a research note on Tuesday, September 17th. Roth Capital raised shares of CG Oncology to a "strong-buy" rating in a research report on Tuesday, August 27th. Finally, UBS Group assumed 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. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $63.88.

CG Oncology Price Performance

NASDAQ:CGON traded down $0.25 during trading hours on Monday, hitting $39.69. 505,688 shares of the company traded hands, compared to its average volume of 649,724. The firm's 50-day simple moving average is $36.84 and its 200-day simple moving average is $34.82. CG Oncology, Inc. has a one year low of $25.77 and a one year high of $50.23.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.14. The firm had revenue of $0.11 million during the quarter. As a group, analysts forecast that CG Oncology, Inc. will post -1.45 EPS for the current fiscal year.

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.