Bank of America Corp DE Buys 38,626 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Bank of America Corp DE lifted its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 209,518 shares of the company's stock after buying an additional 38,626 shares during the quarter. Bank of America Corp DE owned about 0.28% of CG Oncology worth $6,009,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in CGON. Mirae Asset Global Investments Co. Ltd. bought a new stake in CG Oncology during the fourth quarter worth approximately $68,000. KLP Kapitalforvaltning AS bought a new stake in CG Oncology during the fourth quarter worth approximately $100,000. Federated Hermes Inc. bought a new stake in CG Oncology during the fourth quarter worth approximately $172,000. Meeder Asset Management Inc. acquired a new position in shares of CG Oncology during the fourth quarter worth approximately $189,000. Finally, NEOS Investment Management LLC lifted its holdings in shares of CG Oncology by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock worth $239,000 after buying an additional 817 shares during the last quarter. Institutional investors own 26.56% of the company's stock.

CG Oncology Stock Down 2.0%

CG Oncology stock traded down $0.53 on Friday, hitting $25.70. The company's stock had a trading volume of 726,922 shares, compared to its average volume of 826,993. The firm has a market cap of $1.96 billion, a P/E ratio of -17.02 and a beta of 1.08. The company has a fifty day moving average price of $23.05 and a 200-day moving average price of $27.30. CG Oncology, Inc. has a one year low of $14.80 and a one year high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly 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). The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.53 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Transactions at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction dated 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. 7.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Monday, April 28th. JPMorgan Chase & Co. initiated coverage on shares of CG Oncology in a research report on Friday, May 2nd. They set an "overweight" rating and a $41.00 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Royal Bank of Canada boosted their target price 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. Finally, Morgan Stanley dropped their target price on shares of CG Oncology from $55.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average 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.