CG Oncology, Inc. (NASDAQ:CGON) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 443.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 168,866 shares of the company’s stock after purchasing an additional 137,795 shares during the period. JPMorgan Chase & Co. owned about 0.22% of CG Oncology worth $4,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CG Oncology in the 4th quarter valued at about $68,000. KLP Kapitalforvaltning AS purchased a new position in CG Oncology during the fourth quarter valued at approximately $100,000. Arizona State Retirement System acquired a new position in CG Oncology in the 4th quarter valued at approximately $340,000. Teacher Retirement System of Texas purchased a new stake in CG Oncology in the 4th quarter worth approximately $342,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of CG Oncology during the 4th quarter valued at $381,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

CG Oncology Price Performance

Shares of NASDAQ CGON opened at $20.64 on Friday. The business has a 50-day moving average of $24.32 and a 200-day moving average of $29.81. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $46.99. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -14.54 and a beta of 1.24.

CG Oncology (NASDAQ:CGON) last posted 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). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.11 million. On average, sell-side analysts expect 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.