Franklin Resources Inc. Purchases 45,698 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Franklin Resources Inc. raised its position in CG Oncology, Inc. (NASDAQ:CGON) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,275,891 shares of the company’s stock after acquiring an additional 45,698 shares during the period. Franklin Resources Inc.’s holdings in CG Oncology were worth $36,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in CG Oncology by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock valued at $168,096,000 after purchasing an additional 779,730 shares during the last quarter. Wellington Management Group LLP raised its position in shares of CG Oncology by 274.4% in the fourth quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock valued at $54,792,000 after purchasing an additional 1,400,251 shares during the period. Alliancebernstein L.P. lifted its stake in shares of CG Oncology by 61.6% during the 4th quarter. Alliancebernstein L.P. now owns 1,817,887 shares of the company’s stock valued at $52,137,000 after buying an additional 692,982 shares in the last quarter. State Street Corp boosted its holdings in CG Oncology by 73.0% in the 3rd quarter. State Street Corp now owns 1,700,653 shares of the company’s stock worth $64,166,000 after buying an additional 717,722 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in CG Oncology by 96.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company’s stock worth $40,701,000 after buying an additional 528,749 shares during the period. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD Cowen assumed coverage on CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating on the stock. Morgan Stanley reissued an “overweight” rating and set a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. Finally, HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Monday, March 31st. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $63.88.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CG Oncology Stock Down 8.2 %

CGON opened at $17.20 on Friday. The business’s fifty day simple moving average is $26.99 and its 200 day simple moving average is $31.30. CG Oncology, Inc. has a 52 week low of $16.64 and a 52 week high of $46.99. The stock has a market cap of $1.31 billion, a PE ratio of -12.11 and a beta of 1.24.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The business had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.11 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. As a group, equities analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

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.