Ameriprise Financial Inc. Grows Stock Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Ameriprise Financial Inc. raised its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 70.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,946 shares of the company’s stock after buying an additional 9,051 shares during the period. Ameriprise Financial Inc.’s holdings in CG Oncology were worth $629,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised 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 acquiring an additional 779,730 shares in the last quarter. Barclays PLC raised its stake in shares of CG Oncology by 331.1% in the third quarter. Barclays PLC now owns 90,520 shares of the company’s stock valued at $3,416,000 after acquiring an additional 69,523 shares in the last quarter. New York State Common Retirement Fund raised its stake 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 valued at $401,000 after acquiring an additional 2,000 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of 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 acquiring an additional 8,803 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of CG Oncology by 144.2% in the fourth quarter. Swiss National Bank now owns 79,600 shares of the company’s stock valued at $2,283,000 after acquiring an additional 47,000 shares in the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $30.76, for a total transaction of $30,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.40% of the stock is currently owned by insiders.

CG Oncology Stock Performance

Shares of CGON opened at $26.79 on Wednesday. The company has a market capitalization of $2.04 billion, a PE ratio of -17.74 and a beta of 1.08. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $40.47. The stock has a fifty day moving average of $23.05 and a two-hundred day moving average of $27.20.

CG Oncology (NASDAQ:CGON) last released its 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). The business had revenue of $0.05 million during the quarter, compared to analyst estimates 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 research analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CGON shares. Scotiabank started coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a “sector perform” rating and a $23.00 price target on the stock. JPMorgan Chase & Co. started coverage on CG Oncology in a research note on Friday, May 2nd. They issued an “overweight” rating and a $41.00 price target on the stock. Royal Bank of Canada raised their price target on CG Oncology from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. HC Wainwright restated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CG Oncology currently has a consensus rating of “Buy” and an average price target of $58.22.

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.