Handelsbanken Fonder AB Takes $381,000 Position in CG Oncology, Inc. (NASDAQ:CGON)

Handelsbanken Fonder AB bought a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 13,300 shares of the company's stock, valued at approximately $381,000.

Several other hedge funds have also modified their holdings of the company. Amalgamated Bank increased its holdings in CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company's stock worth $61,000 after acquiring an additional 840 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in shares of CG Oncology by 27.4% during the third quarter. TimesSquare Capital Management LLC now owns 437,069 shares of the company's stock worth $16,491,000 after purchasing an additional 94,010 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of CG Oncology during the 3rd quarter worth about $832,000. Massachusetts Financial Services Co. MA lifted its stake in CG Oncology by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 279,945 shares of the company's stock valued at $10,562,000 after buying an additional 13,158 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in CG Oncology by 114.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company's stock worth $14,325,000 after buying an additional 202,262 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank of Canada reissued an "outperform" rating and set a $66.00 target price on shares of CG Oncology in a report on Friday, December 6th. TD Cowen began coverage on CG Oncology in a research note on Tuesday, January 7th. They issued a "buy" rating for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $75.00 target price on shares of CG Oncology in a research note on Friday, January 10th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $65.14.

Remove Ads

CG Oncology Stock Down 0.5 %

Shares of CGON traded down $0.14 during midday trading on Thursday, reaching $26.70. The company had a trading volume of 528,251 shares, compared to its average volume of 573,263. CG Oncology, Inc. has a 1-year low of $23.91 and a 1-year high of $46.99. The firm has a 50 day simple moving average of $28.72 and a 200-day simple moving average of $32.97.

Insider Buying and Selling

In other news, Director Hong Fang Song sold 700,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the completion of the sale, the director now owns 3,003,931 shares in the company, valued at $84,110,068. This trade represents a 18.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 702,000 shares of company stock worth $19,664,200.

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.