Amalgamated Bank Grows Position in CG Oncology, Inc. (NASDAQ:CGON)

Amalgamated Bank lifted its stake in CG Oncology, Inc. (NASDAQ:CGON) by 107.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,621 shares of the company’s stock after buying an additional 840 shares during the quarter. Amalgamated Bank’s holdings in CG Oncology were worth $61,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. American International Group Inc. purchased a new stake in CG Oncology during the first quarter valued at $13,443,000. Price T Rowe Associates Inc. MD purchased a new stake in CG Oncology during the first quarter valued at $43,555,000. BNP Paribas Financial Markets purchased a new stake in CG Oncology during the first quarter valued at $492,000. Deerfield Management Company L.P. Series C raised its stake in CG Oncology by 811.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock valued at $13,687,000 after purchasing an additional 386,000 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in CG Oncology during the second quarter valued at $1,912,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Price Performance

CGON stock opened at $32.90 on Monday. The firm has a 50-day simple moving average of $36.70 and a two-hundred day simple moving average of $34.65. CG Oncology, Inc. has a one year low of $25.77 and a one year high of $50.23.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.06. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Equities research analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CGON shares. Royal Bank of Canada started coverage on shares of CG Oncology in a research report on Monday, September 23rd. They set an “outperform” rating and a $66.00 price objective on the stock. Roth Mkm started coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price objective on the stock. Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. UBS Group started coverage on shares of CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a report on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CG Oncology currently has a consensus rating of “Buy” and a consensus price target of $63.88.

Insider Buying and Selling

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

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.