The Manufacturers Life Insurance Company Boosts Stake in CG Oncology, Inc. (NASDAQ:CGON)

The Manufacturers Life Insurance Company lifted its stake in CG Oncology, Inc. (NASDAQ:CGON) by 21.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 73,149 shares of the company’s stock after acquiring an additional 12,848 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of CG Oncology worth $2,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. California State Teachers Retirement System purchased a new position in CG Oncology during the 1st quarter worth approximately $103,000. Bank of New York Mellon Corp grew its stake in CG Oncology by 38.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,344 shares of the company’s stock valued at $2,821,000 after acquiring an additional 24,801 shares during the last quarter. Rhumbline Advisers grew its position in shares of CG Oncology by 13.0% in the second quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock valued at $1,081,000 after purchasing an additional 3,940 shares during the last quarter. TD Asset Management Inc purchased a new position in CG Oncology during the second quarter worth $2,939,000. Finally, Massachusetts Financial Services Co. MA increased its position in CG Oncology by 2.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock worth $8,422,000 after purchasing an additional 6,899 shares in the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

CG Oncology Stock Performance

CG Oncology stock opened at $34.59 on Monday. CG Oncology, Inc. has a 1 year low of $25.77 and a 1 year high of $50.23. The firm’s 50 day moving average price is $35.78 and its two-hundred day moving average price is $34.95.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. Equities research analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CGON. Bank of America reaffirmed a “buy” rating and set a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price target on shares of CG Oncology in a report on Friday. Roth Mkm initiated coverage on CG Oncology in a research note on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price target for the company. UBS Group started coverage on shares of CG Oncology in a research report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Eight 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 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.