Yu Fan reduced its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 89.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 163,456 shares of the company's stock after selling 1,414,888 shares during the period. CG Oncology comprises 19.0% of Yu Fan's investment portfolio, making the stock its 3rd biggest position. Yu Fan owned approximately 0.24% of CG Oncology worth $6,167,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. bought a new position in shares of CG Oncology during the 1st quarter worth $97,678,000. Price T Rowe Associates Inc. MD purchased a new stake in CG Oncology during the first quarter valued at about $43,555,000. California State Teachers Retirement System purchased a new stake in CG Oncology during the first quarter valued at about $103,000. Bank of New York Mellon Corp boosted its position in CG Oncology by 38.4% during the second quarter. Bank of New York Mellon Corp now owns 89,344 shares of the company's stock worth $2,821,000 after purchasing an additional 24,801 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of CG Oncology by 13.0% in the second quarter. Rhumbline Advisers now owns 34,229 shares of the company's stock worth $1,081,000 after purchasing an additional 3,940 shares in the last quarter. Hedge funds and other institutional investors own 26.56% of the company's stock.
CG Oncology Price Performance
CG Oncology stock traded up $0.20 during midday trading on Thursday, hitting $34.10. 504,983 shares of the company's stock were exchanged, compared to its average volume of 643,211. The stock has a 50-day moving average price of $36.18 and a two-hundred day moving average price of $34.62. CG Oncology, Inc. has a 52-week low of $25.77 and a 52-week high of $50.23.
CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings data 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 net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.04 million for the quarter, compared to analysts' expectations of $0.30 million. On average, research analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
CGON has been the topic of a number of recent research reports. 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 set a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Royal Bank of Canada assumed coverage on CG Oncology in a research report on Monday, September 23rd. They issued an "outperform" rating and a $66.00 price target for the company. Roth Mkm started coverage on CG Oncology in a report on Tuesday, August 27th. They set a "buy" rating and a $65.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research note on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $63.88.
Check Out Our Latest Research Report on CG Oncology
CG Oncology Profile
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Free Report)
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.
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