BNP Paribas Financial Markets Sells 21,024 Shares of CG Oncology, Inc. (NASDAQ:CGON)

BNP Paribas Financial Markets cut its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 78.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,636 shares of the company's stock after selling 21,024 shares during the period. BNP Paribas Financial Markets' holdings in CG Oncology were worth $162,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. NEOS Investment Management LLC grew its stake 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 purchasing an additional 817 shares during the period. Rhumbline Advisers grew its stake in CG Oncology by 2.2% in the fourth quarter. Rhumbline Advisers now owns 69,016 shares of the company's stock valued at $1,979,000 after acquiring an additional 1,458 shares during the period. MetLife Investment Management LLC grew its stake in CG Oncology by 7.0% in the fourth quarter. MetLife Investment Management LLC now owns 29,026 shares of the company's stock valued at $832,000 after acquiring an additional 1,894 shares during the period. New York State Common Retirement Fund grew its stake in CG Oncology by 16.7% in the fourth quarter. New York State Common Retirement Fund now owns 13,996 shares of the company's stock valued at $401,000 after acquiring an additional 2,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in CG Oncology in the fourth quarter valued at about $68,000. 26.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $30.76, for a total transaction 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Scotiabank assumed coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 target price for the company. Morgan Stanley decreased their target price on CG Oncology from $55.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Cantor Fitzgerald reissued an "overweight" rating and issued a $75.00 target price on shares of CG Oncology in a research note on Monday, April 28th. JPMorgan Chase & Co. assumed coverage on CG Oncology in a research note on Friday, May 2nd. They issued an "overweight" rating and a $41.00 target price for the company. Finally, Royal Bank of Canada boosted their target price on CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $58.22.

CG Oncology Trading Up 3.8%

Shares of CGON stock traded up $0.97 on Monday, hitting $26.59. 620,072 shares of the stock were exchanged, compared to its average volume of 826,160. The firm has a market capitalization of $2.03 billion, a P/E ratio of -17.61 and a beta of 1.08. The business has a 50-day moving average of $23.05 and a 200 day moving average of $27.24. 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 posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.09). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The firm had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.53 million. As a group, research analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

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.