CG Oncology, Inc. (NASDAQ:CGON) Position Boosted by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 876.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,660 shares of the company's stock after acquiring an additional 23,931 shares during the period. BNP Paribas Financial Markets' holdings in CG Oncology were worth $1,006,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in CG Oncology by 83,581.6% in the 3rd quarter. FMR LLC now owns 145,606 shares of the company's stock valued at $5,494,000 after purchasing an additional 145,432 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in CG Oncology by 21.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 73,149 shares of the company's stock valued at $2,760,000 after purchasing an additional 12,848 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CG Oncology by 114.0% in 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 during the last quarter. Massachusetts Financial Services Co. MA raised its position in CG Oncology by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 279,945 shares of the company's stock valued at $10,562,000 after purchasing an additional 13,158 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in CG Oncology in the 3rd quarter valued at $832,000. Institutional investors and hedge funds own 26.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CGON. UBS Group began coverage on shares of CG Oncology in a research report on Thursday, October 24th. They issued a "buy" rating and a $60.00 price target for the company. HC Wainwright reiterated a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a research report on Friday, December 6th. Roth Mkm started coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a "buy" rating and a $65.00 price objective for the company. Roth Capital upgraded shares of CG Oncology to a "strong-buy" rating in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, 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 Leonard E. Post sold 1,000 shares of the stock in a transaction dated 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 available through this hyperlink.

CG Oncology Stock Performance

Shares of NASDAQ:CGON traded down $1.97 on Wednesday, reaching $31.73. 519,203 shares of the company were exchanged, compared to its average volume of 642,813. CG Oncology, Inc. has a 1-year low of $25.77 and a 1-year high of $50.23. The company has a 50-day moving average of $35.62 and a 200-day moving average of $34.98.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.36) by $0.06. The business had revenue of $0.04 million for the quarter, compared to analysts' expectations of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Analysts expect that CG Oncology, Inc. will post -1.31 earnings per share 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.