CG Oncology, Inc. (NASDAQ:CGON) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 59.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,071 shares of the company's stock after acquiring an additional 11,542 shares during the period. JPMorgan Chase & Co.'s holdings in CG Oncology were worth $1,172,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Amalgamated Bank boosted its stake in CG Oncology by 107.6% during the third quarter. Amalgamated Bank now owns 1,621 shares of the company's stock valued at $61,000 after buying an additional 840 shares during the last quarter. M&T Bank Corp boosted its stake in CG Oncology by 55.7% during the third quarter. M&T Bank Corp now owns 16,758 shares of the company's stock valued at $632,000 after buying an additional 5,996 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CG Oncology during the third quarter valued at approximately $241,000. Profund Advisors LLC bought a new position in CG Oncology during the second quarter valued at approximately $300,000. Finally, The Manufacturers Life Insurance Company boosted its stake in CG Oncology by 21.3% during the third quarter. The Manufacturers Life Insurance Company now owns 73,149 shares of the company's stock valued at $2,760,000 after buying an additional 12,848 shares during the last quarter. Institutional investors own 26.56% of the company's stock.

CG Oncology Trading Up 0.1 %

Shares of NASDAQ CGON traded up $0.04 during midday trading on Friday, hitting $30.79. The company's stock had a trading volume of 601,668 shares, compared to its average volume of 645,712. The business's 50 day moving average is $30.92 and its two-hundred day moving average is $34.10. CG Oncology, Inc. has a 12-month low of $25.77 and a 12-month high of $50.23.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CGON shares. TD Cowen started coverage on CG Oncology in a research note on Tuesday, January 7th. They set a "buy" rating for the company. UBS Group began coverage on CG Oncology in a research report on Thursday, October 24th. They set a "buy" rating and a $60.00 price objective on the stock. 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. Bank of America restated a "buy" rating and set a $65.00 price objective on shares of CG Oncology in a research report on Tuesday, October 8th. Finally, HC Wainwright restated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Friday, January 10th. Nine investment 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 currently has a consensus rating of "Buy" and a consensus price target of $63.88.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $34.54, for a total value of $34,540.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hong Fang Song sold 700,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $28.00, for a total value of $19,600,000.00. Following the sale, the director now directly owns 3,003,931 shares in the company, valued at $84,110,068. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 702,000 shares of company stock valued at $19,664,200 over the last quarter.

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.