Geode Capital Management LLC Has $33.18 Million Stock Position in CG Oncology, Inc. (NASDAQ:CGON)

Geode Capital Management LLC lifted its stake in CG Oncology, Inc. (NASDAQ:CGON) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,156,670 shares of the company’s stock after acquiring an additional 78,143 shares during the period. Geode Capital Management LLC owned approximately 1.52% of CG Oncology worth $33,181,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CGON shares. Morgan Stanley restated an “overweight” rating and issued a $55.00 price objective on shares of CG Oncology in a research note on Friday, March 7th. Scotiabank began coverage on CG Oncology in a research note on Wednesday. They set a “sector perform” rating and a $23.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Monday, March 31st. Finally, TD Cowen started coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $59.33.

CG Oncology Stock Up 0.5 %

Shares of CGON opened at $20.22 on Thursday. The stock’s fifty day simple moving average is $24.61 and its 200-day simple moving average is $30.04. The firm has a market capitalization of $1.54 billion, a PE ratio of -14.24 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.

CG Oncology (NASDAQ:CGON) last issued 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 return on equity of 18.97% and a negative net margin of 10,642.98%. The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.11 million. Analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current year.

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.