Invesco Ltd. Buys 11,662 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Invesco Ltd. boosted its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 75.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,069 shares of the company's stock after purchasing an additional 11,662 shares during the period. Invesco Ltd.'s holdings in CG Oncology were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. NEOS Investment Management LLC increased its position in shares of CG Oncology by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock valued at $239,000 after acquiring an additional 817 shares during the last quarter. Rhumbline Advisers boosted 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 buying an additional 1,458 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of CG Oncology by 16.7% in the 4th quarter. New York State Common Retirement Fund now owns 13,996 shares of the company's stock valued at $401,000 after buying an additional 2,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in CG Oncology during the fourth quarter worth $68,000. Finally, KLP Kapitalforvaltning AS bought a new stake in CG Oncology during the fourth quarter worth $100,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CGON shares. HC Wainwright restated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, April 28th. Scotiabank began coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target for the company. Royal Bank of Canada lifted their price target on shares of CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $55.00 price target on shares of CG Oncology in a research note on Friday, March 7th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $57.70.

CG Oncology Trading Up 1.7 %

NASDAQ:CGON traded up $0.37 during mid-day trading on Thursday, hitting $22.71. 378,000 shares of the company's stock were exchanged, compared to its average volume of 802,432. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $40.47. The firm has a market capitalization of $1.73 billion, a P/E ratio of -15.99 and a beta of 1.08. The company has a 50 day simple moving average of $23.61 and a 200-day simple moving average of $28.75.

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

Insider Transactions at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.76, for a total value of $30,760.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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.