Bank of New York Mellon Corp Has $3.61 Million Stock Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Bank of New York Mellon Corp boosted its position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 147,560 shares of the company's stock after buying an additional 11,993 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.19% of CG Oncology worth $3,614,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Decheng Capital LLC lifted its holdings in CG Oncology by 16.3% during the 4th quarter. Decheng Capital LLC now owns 6,371,669 shares of the company's stock worth $182,739,000 after buying an additional 892,859 shares in the last quarter. Vanguard Group Inc. raised its position in shares of CG Oncology by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock valued at $168,096,000 after acquiring an additional 779,730 shares during the last quarter. Braidwell LP raised its position in shares of CG Oncology by 3.5% during the 4th quarter. Braidwell LP now owns 3,283,317 shares of the company's stock valued at $94,166,000 after acquiring an additional 112,442 shares during the last quarter. Foresite Capital Management VI LLC bought a new stake in shares of CG Oncology during the 4th quarter valued at $63,712,000. Finally, Wellington Management Group LLP raised 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 valued at $54,792,000 after acquiring an additional 1,400,251 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company's stock.

Insider Activity at CG Oncology

In other news, Director Leonard E. Post sold 2,000 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $28.00, for a total transaction of $56,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.40% of the stock is currently owned by corporate insiders.

CG Oncology Trading Down 0.2%

CGON stock opened at $26.10 on Friday. The stock has a 50-day moving average price of $26.25 and a two-hundred day moving average price of $25.89. The stock has a market cap of $1.99 billion, a PE ratio of -17.28 and a beta of 0.86. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year 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 analysts' consensus estimates of ($0.36) by ($0.09). CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. The firm had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.53 million. On average, analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CGON has been the subject of several recent research reports. Scotiabank initiated coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Cantor Fitzgerald reiterated an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Morgan Stanley upped their target price on shares of CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Finally, Royal Bank Of Canada dropped their target price on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, CG Oncology currently has an average rating of "Buy" and an average target price of $55.30.

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.

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