Northern Trust Corp Boosts Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Northern Trust Corp boosted its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,860 shares of the company's stock after buying an additional 52,419 shares during the quarter. Northern Trust Corp owned approximately 0.57% of CG Oncology worth $12,443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CGON. Barclays PLC lifted its holdings in CG Oncology by 331.1% during the 3rd quarter. Barclays PLC now owns 90,520 shares of the company's stock valued at $3,416,000 after buying an additional 69,523 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of CG Oncology by 59.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company's stock valued at $1,172,000 after purchasing an additional 11,542 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of CG Oncology in the 4th quarter valued at about $411,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of CG Oncology in the 4th quarter valued at about $68,000. Finally, Rhumbline Advisers raised its holdings in shares of CG Oncology by 2.2% in the 4th quarter. Rhumbline Advisers now owns 69,016 shares of the company's stock valued at $1,979,000 after purchasing an additional 1,458 shares in the last quarter. Institutional investors own 26.56% of the company's stock.

CG Oncology Trading Down 1.8%

Shares of CGON stock traded down $0.46 during trading hours on Thursday, reaching $25.76. 530,501 shares of the company's stock were exchanged, compared to its average volume of 829,853. The stock's 50 day moving average is $23.30 and its 200-day moving average is $27.89. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -17.06 and a beta of 1.08. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.09). 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 $0.05 million during the quarter, compared to analyst estimates of $0.53 million. Equities analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.76, for a total value of $30,760.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on CGON shares. Scotiabank started coverage on shares of CG Oncology in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $75.00 price target on shares of CG Oncology in a report on Monday, April 28th. JPMorgan Chase & Co. started coverage on shares of CG Oncology in a report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 price target for the company. HC Wainwright restated a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a report on Monday, April 28th. Finally, Morgan Stanley reduced their price target on shares of CG Oncology from $55.00 to $52.00 and set an "overweight" rating for the company in a report on Monday. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $58.22.

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.