Deutsche Bank AG Acquires 13,589 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Deutsche Bank AG increased its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON) by 53.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,978 shares of the company’s stock after acquiring an additional 13,589 shares during the period. Deutsche Bank AG owned about 0.05% of CG Oncology worth $1,118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new position in CG Oncology during the fourth quarter worth $411,000. Vanguard Group Inc. grew its position in CG Oncology by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock worth $168,096,000 after buying an additional 779,730 shares in the last quarter. Barclays PLC increased its stake in CG Oncology by 331.1% during the 3rd quarter. Barclays PLC now owns 90,520 shares of the company’s stock worth $3,416,000 after acquiring an additional 69,523 shares during the period. New York State Common Retirement Fund increased its position in shares of CG Oncology by 16.7% in the fourth quarter. New York State Common Retirement Fund now owns 13,996 shares of the company’s stock worth $401,000 after purchasing an additional 2,000 shares during the period. Finally, Wells Fargo & Company MN raised its stake in CG Oncology by 45.3% in the fourth quarter. Wells Fargo & Company MN now owns 28,234 shares of the company’s stock valued at $810,000 after purchasing an additional 8,803 shares in the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Stock Down 1.2%

Shares of CGON opened at $25.44 on Monday. The stock has a fifty day simple moving average of $23.26 and a two-hundred day simple moving average of $27.66. CG Oncology, Inc. has a 52-week low of $14.80 and a 52-week high of $40.47. The company has a market capitalization of $1.94 billion, a PE ratio of -16.85 and a beta of 1.08.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.09). The business had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.53 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, equities analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on CGON shares. Scotiabank initiated coverage on CG Oncology in a research note on Wednesday, April 16th. They set a “sector perform” rating and a $23.00 target price for the company. Morgan Stanley lowered their price target on shares of CG Oncology from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Cantor Fitzgerald restated an “overweight” rating and set a $75.00 price target on shares of CG Oncology in a report on Monday, April 28th. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. Finally, Royal Bank of Canada boosted their price objective on shares of CG Oncology from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $58.22.

Insiders Place Their Bets

In related news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.76, for a total value of $30,760.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.40% of the stock is currently owned by company insiders.

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.