Rhumbline Advisers Buys 5,673 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Rhumbline Advisers raised its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 8.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,689 shares of the company’s stock after purchasing an additional 5,673 shares during the quarter. Rhumbline Advisers owned 0.10% of CG Oncology worth $1,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of CG Oncology by 1,051.0% during the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock valued at $56,000 after purchasing an additional 2,102 shares during the last quarter. Wellington Management Group LLP lifted its stake 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 valued at $54,792,000 after buying an additional 1,400,251 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of CG Oncology by 115.3% in the fourth quarter. California State Teachers Retirement System now owns 38,768 shares of the company’s stock worth $1,112,000 after acquiring an additional 20,763 shares during the period. GF Fund Management CO. LTD. bought a new position in CG Oncology in the 4th quarter worth approximately $41,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in CG Oncology by 496.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,902 shares of the company’s stock valued at $3,611,000 after acquiring an additional 104,780 shares in the last quarter. Institutional investors own 26.56% of the company’s stock.

Insider Buying and Selling at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

CG Oncology Trading Up 3.1%

NASDAQ:CGON opened at $26.24 on Wednesday. The company’s 50 day moving average is $24.40 and its two-hundred day moving average is $26.71. The company has a market cap of $2.00 billion, a PE ratio of -17.38 and a beta of 0.86. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $40.47.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.09). The firm had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.53 million. CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. As a group, analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Monday, April 28th. Morgan Stanley increased their price target on CG Oncology from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday. 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 research report on Tuesday, April 29th. JPMorgan Chase & Co. initiated coverage on shares of CG Oncology in a report on Friday, May 2nd. They set an “overweight” rating and a $41.00 target price on the stock. Finally, Scotiabank assumed coverage on CG Oncology in a research report on Wednesday, April 16th. They set a “sector perform” rating and a $23.00 target price on the stock. One investment 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.com, the stock has a consensus rating of “Buy” and a consensus price target of $58.67.

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.