Intech Investment Management LLC Takes $481,000 Position in CG Oncology, Inc. (NASDAQ:CGON)

Intech Investment Management LLC bought a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 16,787 shares of the company's stock, valued at approximately $481,000.

A number of other institutional investors have also added to or reduced their stakes in CGON. Swiss National Bank lifted its position in shares of CG Oncology by 144.2% in the 4th quarter. Swiss National Bank now owns 79,600 shares of the company's stock worth $2,283,000 after purchasing an additional 47,000 shares during the period. Arizona State Retirement System bought a new stake in CG Oncology during the fourth quarter valued at about $340,000. Charles Schwab Investment Management Inc. raised its holdings in CG Oncology by 12.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 427,760 shares of the company's stock worth $12,268,000 after purchasing an additional 48,096 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of CG Oncology by 36.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 30,197 shares of the company's stock valued at $866,000 after buying an additional 8,145 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in shares of CG Oncology in the 4th quarter worth approximately $381,000. Hedge funds and other institutional investors own 26.56% of the company's stock.

Insider Activity at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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CG Oncology Stock Down 1.9 %

Shares of CGON traded down $0.52 during mid-day trading on Friday, reaching $26.42. The company had a trading volume of 729,101 shares, compared to its average volume of 651,603. CG Oncology, Inc. has a 52-week low of $23.91 and a 52-week high of $46.99. The stock has a 50 day moving average of $27.91 and a two-hundred day moving average of $31.86.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) 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%. On average, sell-side analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CGON. TD Cowen initiated coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They issued a "buy" rating for the company. Morgan Stanley reissued an "overweight" rating and issued a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $66.00 price target on shares of CG Oncology in a research note on Friday, December 6th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $75.00 price target on shares of CG Oncology in a research report on Tuesday. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CG Oncology presently has a consensus rating of "Buy" and a consensus target price of $63.88.

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.