CG Oncology, Inc. (NASDAQ:CGON) Position Boosted by Northern Trust Corp

Northern Trust Corp lifted its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 433,860 shares of the company’s stock after purchasing an additional 52,419 shares during the period. Northern Trust Corp owned about 0.57% of CG Oncology worth $12,443,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CG Oncology during the fourth quarter worth about $68,000. KLP Kapitalforvaltning AS bought a new position in shares of CG Oncology during the fourth quarter worth about $100,000. Federated Hermes Inc. bought a new position in CG Oncology in the fourth quarter worth about $172,000. Meeder Asset Management Inc. bought a new position in CG Oncology in the fourth quarter worth about $189,000. Finally, NEOS Investment Management LLC lifted its holdings in CG Oncology by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock worth $239,000 after acquiring an additional 817 shares during the last quarter. Institutional investors own 26.56% of the company’s stock.

CG Oncology Trading Up 0.3%

Shares of NASDAQ:CGON opened at $25.43 on Friday. The firm’s 50 day moving average is $23.40 and its two-hundred day moving average is $28.18. CG Oncology, Inc. has a 52 week low of $14.80 and a 52 week high of $40.47. The firm has a market capitalization of $1.94 billion, a P/E ratio of -16.84 and a beta of 1.08.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.09). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The firm had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.53 million. Analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CGON shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. Scotiabank started coverage on shares of CG Oncology in a report on Wednesday, April 16th. They issued a “sector perform” rating and a $23.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and issued a $55.00 target price on shares of CG Oncology in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. Finally, Royal Bank of Canada raised their target price on shares of CG Oncology from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $58.56.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.40% of the company’s stock.

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.