Rhumbline Advisers Grows Stake in CG Oncology, Inc. $CGON

Rhumbline Advisers increased its stake in CG Oncology, Inc. (NASDAQ:CGON) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,689 shares of the company’s stock after acquiring an additional 5,673 shares during the period. Rhumbline Advisers owned approximately 0.10% of CG Oncology worth $1,829,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Wellington Management Group LLP boosted its position in shares of CG Oncology by 11.2% during the first quarter. Wellington Management Group LLP now owns 2,125,208 shares of the company’s stock valued at $52,046,000 after buying an additional 214,738 shares during the period. Alliancebernstein L.P. grew its holdings in CG Oncology by 3.6% in the first quarter. Alliancebernstein L.P. now owns 1,882,577 shares of the company’s stock worth $46,104,000 after purchasing an additional 64,690 shares during the last quarter. Woodline Partners LP grew its holdings in CG Oncology by 21.5% in the first quarter. Woodline Partners LP now owns 764,357 shares of the company’s stock worth $18,719,000 after purchasing an additional 135,472 shares during the last quarter. Millennium Management LLC grew its holdings in shares of CG Oncology by 139.4% during the first quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock valued at $14,597,000 after buying an additional 347,055 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in CG Oncology by 8.7% in the first quarter. Northern Trust Corp now owns 471,764 shares of the company’s stock valued at $11,554,000 after purchasing an additional 37,904 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CGON shares. Zacks Research upgraded shares of CG Oncology from a “strong sell” rating to a “hold” rating in a research report on Monday, September 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, September 8th. The Goldman Sachs Group raised shares of CG Oncology to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Thursday, July 10th. Piper Sandler initiated coverage on shares of CG Oncology in a research note on Monday, August 18th. They issued an “overweight” rating and a $55.00 price target for the company. Finally, Jones Trading began coverage on shares of CG Oncology in a research report on Monday, September 8th. They set a “buy” rating and a $50.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.00.

CG Oncology Trading Up 5.5%

Shares of CGON opened at $37.72 on Thursday. The firm’s fifty day simple moving average is $27.77 and its 200-day simple moving average is $25.77. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $40.47. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -21.31 and a beta of 0.87.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate 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%. On average, analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $28.00, for a total transaction of $56,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brian Guan-Chyun Liu bought 1,515,151 shares of the stock in a transaction dated Thursday, September 11th. The stock was purchased at an average cost of $33.00 per share, for a total transaction of $49,999,983.00. Following the acquisition, the director owned 1,515,151 shares of the company’s stock, valued at approximately $49,999,983. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 130,015 shares of company stock worth $3,722,883 in the last three months. Company insiders own 7.40% of the company’s stock.

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.