Los Angeles Capital Management LLC Takes Position in CG Oncology, Inc. (NASDAQ:CGON)

Los Angeles Capital Management LLC purchased a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,052 shares of the company’s stock, valued at approximately $832,000.

Other hedge funds have also added to or reduced their stakes in the company. Decheng Capital LLC bought a new position in shares of CG Oncology in the 1st quarter valued at about $239,642,000. Vanguard Group Inc. acquired a new position in CG Oncology in the first quarter valued at approximately $97,678,000. BVF Inc. IL bought a new position in CG Oncology in the first quarter valued at approximately $82,716,000. Yu Fan acquired a new stake in CG Oncology during the 2nd quarter worth $49,828,000. Finally, Janus Henderson Group PLC bought a new stake in shares of CG Oncology during the 1st quarter valued at $66,757,000. Institutional investors own 26.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CGON shares. Royal Bank of Canada assumed coverage on CG Oncology in a research report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price target on the stock. Roth Mkm started coverage on CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Tuesday. Bank of America reissued a “buy” rating and set a $65.00 price objective on shares of CG Oncology in a research note on Tuesday, October 8th. Finally, UBS Group began coverage on shares of CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price for the company. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $63.88.

CG Oncology Trading Down 7.3 %

CG Oncology stock opened at $32.90 on Friday. The company has a 50 day moving average of $36.70 and a 200-day moving average of $34.73. CG Oncology, Inc. has a twelve month low of $25.77 and a twelve month high of $50.23.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. As a group, analysts anticipate that CG Oncology, Inc. will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the transaction, the director now directly owns 586,982 shares in the company, valued at $20,755,683.52. This trade represents a 52.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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.