Charles Schwab Investment Management Inc. Has $10.76 Million Stake in CG Oncology, Inc. $CGON

Key Points

• Charles Schwab Investment Management Inc. increased its stake in CG Oncology, Inc. by 2.7%, now holding 439,278 shares valued at approximately $10.76 million.
• Several institutional investors significantly boosted their positions in CG Oncology, including Wellington Management, which increased its ownership by 274.4% during the fourth quarter.
• Analysts have mixed ratings for CG Oncology, with Royal Bank of Canada reducing its target price to $53.00 while Goldman Sachs upgraded it to a "strong-buy" with a target of $40.00.

Charles Schwab Investment Management Inc. raised its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 2.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 439,278 shares of the company's stock after purchasing an additional 11,518 shares during the period. Charles Schwab Investment Management Inc. owned 0.58% of CG Oncology worth $10,758,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Foresite Capital Management VI LLC acquired a new position in shares of CG Oncology during the 4th quarter valued at $63,712,000. Wellington Management Group LLP lifted 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 period. Acorn Capital Advisors LLC acquired a new position in shares of CG Oncology during the 4th quarter valued at $32,451,000. Orbimed Advisors LLC lifted its position in shares of CG Oncology by 107.1% during the 4th quarter. Orbimed Advisors LLC now owns 1,431,114 shares of the company's stock valued at $41,044,000 after acquiring an additional 740,000 shares during the period. Finally, RTW Investments LP lifted its position in shares of CG Oncology by 26.6% during the 4th quarter. RTW Investments LP now owns 1,701,216 shares of the company's stock valued at $48,791,000 after acquiring an additional 357,142 shares during the period. Institutional investors and hedge funds own 26.56% of the company's stock.

Insiders Place Their Bets

In related 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

CGON has been the topic of a number of research reports. Royal Bank Of Canada dropped their target price on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Wall Street Zen downgraded shares of CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Morgan Stanley upped their price objective on shares of CG Oncology from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. The Goldman Sachs Group upgraded shares of CG Oncology to a "strong-buy" rating and set a $40.00 price objective on the stock in a report on Thursday, July 10th. Finally, HC Wainwright restated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, CG Oncology currently has an average rating of "Buy" and a consensus price target of $55.27.

CG Oncology Price Performance

NASDAQ CGON opened at $26.92 on Monday. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $40.47. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -15.21 and a beta of 0.87. The company has a fifty day moving average price of $26.11 and a 200-day moving average price of $25.30.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.05). CG Oncology had a negative return on equity of 19.37% and a negative net margin of 15,945.17%. On average, research analysts anticipate 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.

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