Franklin Resources Inc. Has $36.59 Million Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Franklin Resources Inc. grew its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,275,891 shares of the company's stock after buying an additional 45,698 shares during the quarter. Franklin Resources Inc. owned 1.68% of CG Oncology worth $36,593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CG Oncology during the fourth quarter worth about $68,000. KLP Kapitalforvaltning AS acquired a new position in CG Oncology in the fourth quarter worth $100,000. Meeder Asset Management Inc. acquired a new stake in shares of CG Oncology during the fourth quarter worth $189,000. NEOS Investment Management LLC boosted its holdings in shares of CG Oncology by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock valued at $239,000 after buying an additional 817 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in CG Oncology during the third quarter worth about $241,000. Institutional investors own 26.56% of the company's stock.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $29.66, for a total value of $29,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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CG Oncology Trading Down 6.6 %

Shares of CGON traded down $1.17 during midday trading on Thursday, hitting $16.61. The stock had a trading volume of 235,363 shares, compared to its average volume of 694,919. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $46.99. The business has a 50-day simple moving average of $25.64 and a two-hundred day simple moving average of $30.59. The firm has a market cap of $1.27 billion, a P/E ratio of -11.80 and a beta of 1.24.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.11 million. On average, analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CGON. TD Cowen began coverage on CG Oncology in a report on Tuesday, January 7th. They issued a "buy" rating on the stock. HC Wainwright reissued a "buy" rating and set a $75.00 target price on shares of CG Oncology in a research note on Monday, March 31st. Finally, Morgan Stanley restated an "overweight" rating and issued a $55.00 price target on shares of CG Oncology in a research note on Friday, March 7th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $63.88.

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.