Northern Trust Corp Buys 37,904 Shares of CG Oncology, Inc. $CGON

Northern Trust Corp lifted its stake in CG Oncology, Inc. (NASDAQ:CGON) by 8.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 471,764 shares of the company’s stock after purchasing an additional 37,904 shares during the quarter. Northern Trust Corp owned about 0.62% of CG Oncology worth $11,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CGON. Wellington Management Group LLP lifted its position in CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock valued at $54,792,000 after acquiring an additional 1,400,251 shares in the last quarter. Orbimed Advisors LLC lifted its holdings in shares of CG Oncology by 107.1% in the 4th quarter. Orbimed Advisors LLC now owns 1,431,114 shares of the company’s stock valued at $41,044,000 after acquiring an additional 740,000 shares during the last quarter. RTW Investments LP increased its position in shares of CG Oncology by 26.6% during the fourth quarter. RTW Investments LP now owns 1,701,216 shares of the company’s stock worth $48,791,000 after acquiring an additional 357,142 shares during the period. Millennium Management LLC purchased a new position in shares of CG Oncology during the fourth quarter worth approximately $7,141,000. Finally, Nuveen LLC purchased a new position in CG Oncology during the first quarter valued at approximately $4,084,000. 26.56% of the stock is owned by institutional investors.

CG Oncology Price Performance

Shares of NASDAQ:CGON opened at $30.94 on Friday. The stock has a market cap of $2.36 billion, a P/E ratio of -17.48 and a beta of 0.87. The firm has a fifty day moving average price of $26.37 and a 200 day moving average price of $25.28. CG Oncology, Inc. has a 1-year low of $14.80 and a 1-year high of $40.47.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative return on equity of 19.37% and a negative net margin of 15,945.17%. Sell-side analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other news, Director Hong Fang Song sold 100,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $27.80, for a total value of $2,780,000.00. Following the completion of the sale, the director owned 2,903,931 shares in the company, valued at approximately $80,729,281.80. This trade represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leonard E. Post sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $28.00, for a total transaction of $56,000.00. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CGON has been the topic of several analyst reports. The Goldman Sachs Group raised shares of CG Oncology to a “strong-buy” rating and set a $40.00 price target on the stock in a report on Thursday, July 10th. Wall Street Zen downgraded shares of CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Royal Bank Of Canada decreased their price objective on shares of CG Oncology from $68.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. Piper Sandler initiated coverage on shares of CG Oncology in a research report on Monday, August 18th. They issued an “overweight” rating and a $55.00 price objective for the company. Finally, Zacks Research raised shares of CG Oncology from a “strong sell” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.30.

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.