Franklin Resources Inc. Has $46.16 Million Stock Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Franklin Resources Inc. grew its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 8.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,230,193 shares of the company's stock after acquiring an additional 100,106 shares during the quarter. Franklin Resources Inc. owned 1.82% of CG Oncology worth $46,157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CGON. Ally Bridge Group NY LLC boosted its holdings in CG Oncology by 50.5% in the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company's stock valued at $9,933,000 after purchasing an additional 88,390 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of CG Oncology by 114.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company's stock valued at $14,325,000 after buying an additional 202,262 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of CG Oncology by 876.9% in the third quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company's stock valued at $1,006,000 after buying an additional 23,931 shares during the period. Deerfield Management Company L.P. Series C grew its position in CG Oncology by 811.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company's stock worth $13,687,000 after buying an additional 386,000 shares in the last quarter. Finally, Ensign Peak Advisors Inc bought a new position in CG Oncology during the 2nd quarter worth $1,912,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hong Fang Song sold 700,000 shares of the business's stock in a transaction 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 sale, the director now directly owns 3,003,931 shares in the company, valued at approximately $84,110,068. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several analysts have recently issued reports on CGON shares. Royal Bank of Canada reissued an "outperform" rating and set a $66.00 target price on shares of CG Oncology in a report on Friday, December 6th. Roth Capital upgraded shares of CG Oncology to a "strong-buy" rating in a research note on Tuesday, August 27th. Bank of America restated 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 reaffirmed a "buy" rating and set a $75.00 price target on shares of CG Oncology in a report on Friday, December 6th. Finally, UBS Group began coverage on shares of CG Oncology in a research note on Thursday, October 24th. They issued a "buy" rating and a $60.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $63.88.

CG Oncology Price Performance

CGON stock traded down $0.82 during trading on Wednesday, reaching $28.45. 1,327,118 shares of the company were exchanged, compared to its average volume of 664,800. The company has a 50-day moving average of $34.99 and a two-hundred day moving average of $34.86. CG Oncology, Inc. has a twelve month low of $25.77 and a twelve month high of $50.23.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results 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 net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million. 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.