Intech Investment Management LLC Acquires 6,503 Shares of CG Oncology, Inc. $CGON

Intech Investment Management LLC increased its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON) by 28.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,059 shares of the company’s stock after purchasing an additional 6,503 shares during the quarter. Intech Investment Management LLC’s holdings in CG Oncology were worth $756,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Winthrop Capital Management LLC bought a new stake in CG Oncology during the 2nd quarter worth about $38,000. CWM LLC increased its position in shares of CG Oncology by 3,957.7% in the first quarter. CWM LLC now owns 2,110 shares of the company’s stock valued at $52,000 after acquiring an additional 2,058 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in CG Oncology by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock worth $77,000 after acquiring an additional 398 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in CG Oncology by 15.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after acquiring an additional 433 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted 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 valued at $198,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors own 26.56% of the company’s stock.

CG Oncology Price Performance

Shares of CG Oncology stock opened at $44.84 on Thursday. The business has a fifty day simple moving average of $40.91 and a two-hundred day simple moving average of $31.84. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $45.78. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of -21.98 and a beta of 1.32.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.57) earnings per share for the quarter, meeting the consensus estimate of ($0.57). The company had revenue of $1.51 million for the quarter, compared to analyst estimates of $0.07 million. CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 21.67%. As a group, equities analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Activity at CG Oncology

In other news, Director Hong Fang Song sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $27.80, for a total value of $2,780,000.00. Following the transaction, the director owned 2,903,931 shares of the company’s stock, valued at approximately $80,729,281.80. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leonard E. Post sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $40.09, for a total value of $200,450.00. The SEC filing for this sale provides additional information. Insiders sold 175,359 shares of company stock valued at $5,553,214 in the last 90 days. Insiders own 7.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CGON. Royal Bank Of Canada boosted their price target on CG Oncology from $53.00 to $61.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. boosted their target price on shares of CG Oncology from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Wall Street Zen raised shares of CG Oncology from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Jones Trading assumed coverage on shares of CG Oncology in a research note on Monday, September 8th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Morgan Stanley boosted their price objective on shares of CG Oncology from $56.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. One equities research 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 data from MarketBeat.com, CG Oncology currently has an average rating of “Moderate Buy” and an average target price 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.