Charles Schwab Investment Management Inc. Purchases 202,262 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Charles Schwab Investment Management Inc. raised its position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 114.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,664 shares of the company's stock after buying an additional 202,262 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.57% of CG Oncology worth $14,325,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CGON. Amalgamated Bank grew its position in shares of CG Oncology by 107.6% in the 3rd 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. California State Teachers Retirement System purchased a new stake in shares of CG Oncology during the 1st quarter worth approximately $103,000. Profund Advisors LLC purchased a new stake in shares of CG Oncology in the second quarter valued at about $300,000. SG Americas Securities LLC acquired a new stake in CG Oncology during the third quarter worth approximately $664,000. Finally, Los Angeles Capital Management LLC acquired a new stake in CG Oncology in the 3rd quarter worth about $832,000. Hedge funds and other institutional investors own 26.56% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Roth Mkm initiated coverage on CG Oncology in a report on Tuesday, August 27th. They issued a "buy" rating and a $65.00 price target for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $66.00 price objective on shares of CG Oncology in a research note on Friday. Bank of America reaffirmed a "buy" rating and set a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. UBS Group began coverage on CG Oncology in a research note on Thursday, October 24th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Roth Capital upgraded CG Oncology to a "strong-buy" rating in a report on Tuesday, August 27th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, CG Oncology presently has an average rating of "Buy" and a consensus price target of $63.88.

Insider Activity

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 value of $34,540.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

CG Oncology Stock Performance

CG Oncology stock traded down $1.40 during mid-day trading on Monday, hitting $33.19. 186,807 shares of the company's stock were exchanged, compared to its average volume of 643,906. CG Oncology, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The company's 50 day simple moving average is $35.78 and its 200-day simple moving average is $34.95.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.36) by $0.06. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, research analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current 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.