Teacher Retirement System of Texas Cuts Position in CG Oncology, Inc. (NASDAQ:CGON)

Teacher Retirement System of Texas decreased its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 6.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 11,125 shares of the company’s stock after selling 802 shares during the period. Teacher Retirement System of Texas’ holdings in CG Oncology were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CGON. Vanguard Group Inc. grew its position in 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. Wells Fargo & Company MN grew its position 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 acquiring an additional 8,803 shares in the last quarter. Swiss National Bank grew its position in 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. JPMorgan Chase & Co. grew its position in CG Oncology by 443.5% in the fourth quarter. JPMorgan Chase & Co. now owns 168,866 shares of the company’s stock valued at $4,843,000 after acquiring an additional 137,795 shares in the last quarter. Finally, Deutsche Bank AG grew its position in CG Oncology by 53.5% in the fourth quarter. Deutsche Bank AG now owns 38,978 shares of the company’s stock valued at $1,118,000 after acquiring an additional 13,589 shares in the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $28.00, for a total transaction of $56,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.40% of the company’s stock.

CG Oncology Trading Down 6.0%

NASDAQ CGON opened at $26.75 on Friday. The stock’s 50-day moving average price is $26.10 and its two-hundred day moving average price is $26.03. The company has a market cap of $2.04 billion, a PE ratio of -17.72 and a beta of 0.86. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $40.47.

CG Oncology (NASDAQ:CGON) last posted 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). The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.53 million. CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. Research analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CGON shares. Cantor Fitzgerald reissued an “overweight” rating and set a $75.00 price target on shares of CG Oncology in a research report on Monday, April 28th. Morgan Stanley raised their price target on shares of CG Oncology from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. JPMorgan Chase & Co. started coverage on shares of CG Oncology in a research report on Friday, May 2nd. They set an “overweight” rating and a $41.00 price target for the company. Scotiabank started coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They set a “sector perform” rating and a $23.00 price target for the company. Finally, Wall Street Zen raised shares of CG Oncology from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, CG Oncology presently has an average rating of “Buy” and a consensus price target of $55.30.

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.