Fmr LLC Raises Stock Position in CG Oncology, Inc. (NASDAQ:CGON)

FMR LLC grew its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 83,581.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 145,606 shares of the company's stock after buying an additional 145,432 shares during the quarter. FMR LLC owned approximately 0.22% of CG Oncology worth $5,494,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CGON. Charles Schwab Investment Management Inc. lifted its stake in CG Oncology by 114.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company's stock worth $14,325,000 after acquiring an additional 202,262 shares during the period. Deerfield Management Company L.P. Series C increased its position in shares of 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 valued at $13,687,000 after buying an additional 386,000 shares during the period. Ensign Peak Advisors Inc bought a new position in CG Oncology in the second quarter worth about $1,912,000. SG Americas Securities LLC purchased a new stake in CG Oncology in the third quarter worth about $664,000. Finally, Bank of New York Mellon Corp grew its stake in CG Oncology by 38.4% in 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. 26.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CGON has been the topic of several research reports. Bank of America restated a "buy" rating and issued a $65.00 price objective on shares of CG Oncology in a report on Tuesday, October 8th. HC Wainwright reiterated a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research note on Friday, December 6th. Roth Mkm assumed coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a "buy" rating and a $65.00 price target for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. Finally, Roth Capital raised 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $63.88.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

CG Oncology Trading Down 0.4 %

NASDAQ:CGON traded down $0.11 on Friday, hitting $28.76. The stock had a trading volume of 3,274,274 shares, compared to its average volume of 652,897. CG Oncology, Inc. has a 52-week low of $25.77 and a 52-week high of $50.23. The business's 50-day simple moving average is $35.39 and its two-hundred day simple moving average is $34.91.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating 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 analyst estimates of $0.30 million. Analysts expect that CG Oncology, Inc. will post -1.32 EPS for the current year.

CG Oncology 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.