Invesco Ltd. Boosts Stock Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Invesco Ltd. raised its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 75.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,069 shares of the company's stock after buying an additional 11,662 shares during the period. Invesco Ltd.'s holdings in CG Oncology were worth $776,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in CG Oncology by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock worth $168,096,000 after purchasing an additional 779,730 shares in the last quarter. Wellington Management Group LLP grew its position in shares of CG Oncology by 274.4% during the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock worth $54,792,000 after buying an additional 1,400,251 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of CG Oncology by 61.6% during the fourth 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 during the period. Franklin Resources Inc. raised its holdings in shares of CG Oncology by 3.7% in the fourth quarter. Franklin Resources Inc. now owns 1,275,891 shares of the company's stock valued at $36,593,000 after acquiring an additional 45,698 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in CG Oncology by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 1,156,670 shares of the company's stock worth $33,181,000 after acquiring an additional 78,143 shares during the period. Institutional investors own 26.56% of the company's stock.

Analyst Upgrades and Downgrades

CGON has been the subject of several research reports. Royal Bank of Canada upped their price target on shares of CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. TD Cowen assumed coverage on CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $75.00 price target on shares of CG Oncology in a research report on Monday, April 28th. Scotiabank assumed coverage on CG Oncology in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 price objective on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $75.00 price target on shares of CG Oncology in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $57.70.

Insider Transactions at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

CG Oncology Trading Up 2.3 %

Shares of CGON stock traded up $0.51 during trading hours on Wednesday, hitting $22.21. The company's stock had a trading volume of 2,082,767 shares, compared to its average volume of 800,063. The stock has a market cap of $1.69 billion, a PE ratio of -15.57 and a beta of 1.08. The company has a 50 day moving average of $23.68 and a 200 day moving average of $28.80. CG Oncology, Inc. has a 12-month low of $14.80 and a 12-month high of $40.47.

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 the consensus estimate of ($0.37) by ($0.11). The company had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

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.