Franklin Resources Inc. Has $38.66 Million Stock Holdings in CG Oncology, Inc. $CGON

Franklin Resources Inc. increased its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 12.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,486,839 shares of the company’s stock after acquiring an additional 167,905 shares during the quarter. Franklin Resources Inc.’s holdings in CG Oncology were worth $38,658,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in CG Oncology by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock valued at $77,000 after purchasing an additional 398 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of CG Oncology by 15.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after buying an additional 433 shares during the period. Invesco Ltd. grew its holdings in shares of CG Oncology by 2.5% in the 1st quarter. Invesco Ltd. now owns 27,754 shares of the company’s stock valued at $680,000 after buying an additional 685 shares during the period. Police & Firemen s Retirement System of New Jersey increased its position in shares of CG Oncology by 10.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 12,879 shares of the company’s stock valued at $335,000 after buying an additional 1,232 shares in the last quarter. Finally, Winthrop Capital Management LLC acquired a new stake in CG Oncology during the 2nd quarter worth $38,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Price Performance

Shares of CG Oncology stock opened at $44.84 on Thursday. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -21.98 and a beta of 1.32. The stock’s 50-day moving average is $40.91 and its 200-day moving average is $31.84. CG Oncology, Inc. has a one year low of $14.80 and a one year high of $45.78.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Friday, November 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.57). The business had revenue of $1.51 million for the quarter, compared to analyst estimates of $0.07 million. CG Oncology had a negative return on equity of 21.67% and a negative net margin of 15,945.17%. On average, equities analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $40.09, for a total value of $200,450.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Guan-Chyun Liu acquired 1,515,151 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was acquired at an average cost of $33.00 per share, for a total transaction of $49,999,983.00. Following the transaction, the director owned 1,515,151 shares of the company’s stock, valued at $49,999,983. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 175,359 shares of company stock valued at $5,553,214 over the last quarter. Insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CGON has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on CG Oncology from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Guggenheim began coverage on CG Oncology in a report on Tuesday, October 7th. They set a “buy” rating and a $90.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a research report on Wednesday, October 8th. Piper Sandler began coverage on CG Oncology in a research note on Monday, August 18th. They set an “overweight” rating and a $55.00 target price for the company. Finally, Jones Trading began coverage on shares of CG Oncology in a report on Monday, September 8th. They set a “buy” rating and a $50.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.73.

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.