Massachusetts Financial Services Co. MA Sells 22,788 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Massachusetts Financial Services Co. MA decreased its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 257,157 shares of the company's stock after selling 22,788 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.34% of CG Oncology worth $7,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in CG Oncology by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock worth $168,096,000 after purchasing an additional 779,730 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock worth $54,792,000 after buying an additional 1,400,251 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of CG Oncology by 61.6% in the 4th quarter. Alliancebernstein L.P. now owns 1,817,887 shares of the company's stock worth $52,137,000 after buying an additional 692,982 shares during the last quarter. State Street Corp raised its position in shares of CG Oncology by 73.0% during the 3rd quarter. State Street Corp now owns 1,700,653 shares of the company's stock valued at $64,166,000 after buying an additional 717,722 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of CG Oncology by 3.7% in the 4th quarter. Franklin Resources Inc. now owns 1,275,891 shares of the company's stock valued at $36,593,000 after acquiring an additional 45,698 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

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CG Oncology Price Performance

Shares of NASDAQ:CGON traded up $1.65 on Friday, hitting $19.28. 1,714,584 shares of the company's stock were exchanged, compared to its average volume of 706,718. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -13.58 and a beta of 1.24. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $46.99. The business's 50 day simple moving average is $25.19 and its two-hundred day simple moving average is $30.35.

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

Insider Activity

In other news, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CGON shares. TD Cowen assumed coverage on CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating on the stock. Morgan Stanley restated an "overweight" rating and set a $55.00 price target on shares of CG Oncology in a report on Friday, March 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, March 31st. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $63.88.

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.