California State Teachers Retirement System Boosts Stock Position in CG Oncology, Inc. (NASDAQ:CGON)

California State Teachers Retirement System lifted its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 115.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,768 shares of the company's stock after purchasing an additional 20,763 shares during the period. California State Teachers Retirement System owned about 0.05% of CG Oncology worth $1,112,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in CG Oncology in the fourth quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CG Oncology in the fourth quarter worth approximately $68,000. KLP Kapitalforvaltning AS purchased a new stake in CG Oncology in the fourth quarter worth approximately $100,000. Federated Hermes Inc. purchased a new stake in CG Oncology in the fourth quarter worth approximately $172,000. Finally, Meeder Asset Management Inc. purchased a new stake in CG Oncology in the fourth quarter worth approximately $189,000. 26.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley dropped their price objective 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. Royal Bank of Canada increased their price objective on CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, April 28th. JPMorgan Chase & Co. began coverage on CG Oncology in a research note on Friday, May 2nd. They set an "overweight" rating and a $41.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and set a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. 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 company's stock. According to MarketBeat.com, CG Oncology presently has an average rating of "Buy" and a consensus price target of $58.22.

CG Oncology Trading Down 2.4%

CGON traded down $0.64 on Friday, hitting $25.86. 626,383 shares of the company's stock traded hands, compared to its average volume of 836,586. The company's 50 day simple moving average is $24.04 and its 200-day simple moving average is $26.88. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -17.13 and a beta of 0.86. 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 issued its 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). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The business had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.53 million. As a group, equities analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $30.76, for a total value of $30,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.40% of the company's stock.

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.