Virtus Investment Advisers LLC Has $92,000 Stake in CG Oncology, Inc. $CGON

Virtus Investment Advisers LLC reduced its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON) by 37.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,548 shares of the company’s stock after selling 2,138 shares during the quarter. Virtus Investment Advisers LLC’s holdings in CG Oncology were worth $92,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CGON. Tejara Capital Ltd acquired a new position in shares of CG Oncology in the second quarter valued at $944,000. Foresite Capital Management V LLC boosted its holdings in shares of CG Oncology by 16.9% during the second quarter. Foresite Capital Management V LLC now owns 1,004,050 shares of the company’s stock worth $26,105,000 after acquiring an additional 145,000 shares during the period. American Century Companies Inc. acquired a new position in shares of CG Oncology in the second quarter valued at approximately $1,759,000. Rhumbline Advisers grew its position in shares of CG Oncology by 10.4% in the second quarter. Rhumbline Advisers now owns 82,424 shares of the company’s stock valued at $2,143,000 after purchasing an additional 7,735 shares during the last quarter. Finally, CenterBook Partners LP increased its stake in shares of CG Oncology by 28.0% during the second quarter. CenterBook Partners LP now owns 260,099 shares of the company’s stock worth $6,763,000 after purchasing an additional 56,971 shares during the period. 26.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Zacks Research upgraded CG Oncology from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st. Wall Street Zen raised shares of CG Oncology from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of CG Oncology from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Finally, Morgan Stanley raised their target price on shares of CG Oncology from $56.00 to $79.00 and gave the stock an “overweight” rating in a report 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CG Oncology currently has an average rating of “Moderate Buy” and a consensus price target of $59.73.

CG Oncology Trading Down 0.1%

Shares of NASDAQ:CGON opened at $44.81 on Monday. The firm has a 50 day moving average of $41.18 and a 200-day moving average of $32.18. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $45.94. The stock has a market capitalization of $3.61 billion, a PE ratio of -21.96 and a beta of 1.32.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.57). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 21.67%. The business had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.07 million. On average, research analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Insiders Place Their Bets

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

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.