Teacher Retirement System of Texas Takes $342,000 Position in CG Oncology, Inc. (NASDAQ:CGON)

Teacher Retirement System of Texas acquired a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,927 shares of the company's stock, valued at approximately $342,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CGON. Mirae Asset Global Investments Co. Ltd. bought a new position in CG Oncology during the fourth quarter valued at approximately $68,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of CG Oncology during the 3rd quarter valued at approximately $241,000. Arizona State Retirement System purchased a new position in shares of CG Oncology in the fourth quarter valued at $340,000. Handelsbanken Fonder AB bought a new stake in CG Oncology in the fourth quarter worth $381,000. Finally, New York State Common Retirement Fund raised its stake in CG Oncology by 16.7% during the fourth quarter. New York State Common Retirement Fund now owns 13,996 shares of the company's stock valued at $401,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 26.56% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CGON shares. TD Cowen began coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They issued a "buy" rating for the company. Morgan Stanley reiterated an "overweight" rating and issued a $55.00 price target on shares of CG Oncology in a research report on Friday, March 7th. Finally, HC Wainwright restated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report 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. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $63.88.

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Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at this link.

CG Oncology Trading Down 8.2 %

Shares of CGON stock traded down $1.54 on Friday, reaching $17.20. 2,148,002 shares of the company's stock were exchanged, compared to its average volume of 679,538. The company's fifty day simple moving average is $26.99 and its 200 day simple moving average is $31.26. CG Oncology, Inc. has a 52 week low of $16.64 and a 52 week high of $46.99. The stock has a market capitalization of $1.31 billion, a PE ratio of -12.11 and a beta of 1.24.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) 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 analysts' expectations of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, sell-side analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

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.