Cwm LLC Acquires 4,083 Shares of CG Oncology, Inc. $CGON

Cwm LLC lifted its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 193.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,193 shares of the company’s stock after purchasing an additional 4,083 shares during the period. Cwm LLC’s holdings in CG Oncology were worth $161,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in CGON. Mirae Asset Global Investments Co. Ltd. increased its position in CG Oncology by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock worth $77,000 after buying an additional 398 shares during the period. KLP Kapitalforvaltning AS increased its position in CG Oncology by 131.4% during the first quarter. KLP Kapitalforvaltning AS now owns 8,100 shares of the company’s stock worth $198,000 after acquiring an additional 4,600 shares during the period. Federated Hermes Inc. increased its position in CG Oncology by 41.7% during the first quarter. Federated Hermes Inc. now owns 8,500 shares of the company’s stock worth $208,000 after acquiring an additional 2,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in CG Oncology by 129.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,456 shares of the company’s stock worth $330,000 after acquiring an additional 7,600 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in CG Oncology by 6.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,270 shares of the company’s stock worth $374,000 after acquiring an additional 930 shares during the period. 26.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director James Mulay sold 5,903 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $43.99, for a total transaction of $259,672.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hong Fang Song sold 100,000 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $27.80, for a total transaction of $2,780,000.00. Following the sale, the director directly owned 2,903,931 shares in the company, valued at approximately $80,729,281.80. This represents a 3.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 174,359 shares of company stock valued at $5,511,784 in the last 90 days. Insiders own 7.40% of the company’s stock.

CG Oncology Stock Performance

CGON opened at $42.47 on Friday. The firm’s 50-day simple moving average is $36.90 and its 200-day simple moving average is $29.42. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $45.56. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -23.99 and a beta of 1.31.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.54) earnings per share 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%. As a group, sell-side analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CGON shares. Zacks Research upgraded shares of CG Oncology from a “strong sell” rating to a “hold” rating in a report on Monday, September 1st. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, October 8th. Piper Sandler initiated coverage on CG Oncology in a research note on Monday, August 18th. They set an “overweight” rating and a $55.00 price target on the stock. Jones Trading began coverage on CG Oncology in a research note on Monday, September 8th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CG Oncology has a consensus rating of “Moderate Buy” and a consensus target price of $58.70.

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.