CG Oncology, Inc. (NASDAQ:CGON) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in CG Oncology, Inc. (NASDAQ:CGON) by 8.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,230,193 shares of the company’s stock after acquiring an additional 100,106 shares during the quarter. Franklin Resources Inc.’s holdings in CG Oncology were worth $46,157,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. California State Teachers Retirement System acquired a new position in shares of CG Oncology in the first quarter valued at approximately $103,000. Bank of New York Mellon Corp raised its holdings in CG Oncology by 38.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,344 shares of the company’s stock valued at $2,821,000 after acquiring an additional 24,801 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of CG Oncology by 13.0% during the 2nd quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock worth $1,081,000 after purchasing an additional 3,940 shares during the period. TD Asset Management Inc acquired a new stake in shares of CG Oncology during the second quarter worth $2,939,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of CG Oncology by 2.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock valued at $8,422,000 after purchasing an additional 6,899 shares during the period. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hong Fang Song sold 700,000 shares of CG Oncology stock in a transaction on Monday, December 16th. The stock was sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the sale, the director now directly owns 3,003,931 shares in the company, valued at $84,110,068. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here.

CG Oncology Trading Up 0.2 %

Shares of NASDAQ CGON opened at $29.27 on Wednesday. The stock has a fifty day moving average price of $35.10 and a 200 day moving average price of $34.88. CG Oncology, Inc. has a 12-month low of $25.77 and a 12-month high of $50.23.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, equities analysts expect that CG Oncology, Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on CGON. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Friday, December 6th. Roth Mkm initiated coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target for the company. Bank of America reiterated a “buy” rating and issued a $65.00 price target on shares of CG Oncology in a report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a report on Friday, December 6th. Finally, UBS Group assumed coverage on CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $63.88.

CG Oncology Company 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.