Nuveen LLC Purchases Shares of 166,774 CG Oncology, Inc. $CGON

Key Points

• Nuveen LLC acquired a new stake in CG Oncology, Inc., purchasing 166,774 shares valued at approximately $4,084,000, representing about 0.22% of the company's stock.
• Several institutional investors significantly increased their positions in CG Oncology during the 4th quarter, with Wellington Management Group boosting its stake by 274.4% to own 1,910,470 shares valued at $54,792,000.
• CG Oncology reported disappointing earnings, with a loss of ($0.54) per share, missing analysts' consensus estimate, and its stock holds a consensus rating of "Buy" with an average target price of $54.30.

Nuveen LLC purchased a new stake in CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 166,774 shares of the company's stock, valued at approximately $4,084,000. Nuveen LLC owned 0.22% of CG Oncology as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new position in CG Oncology in the 4th quarter valued at about $41,000. CWM LLC increased its position in CG Oncology by 3,957.7% in the 1st quarter. CWM LLC now owns 2,110 shares of the company's stock valued at $52,000 after acquiring an additional 2,058 shares during the period. GAMMA Investing LLC increased its position in CG Oncology by 1,051.0% in the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock valued at $56,000 after acquiring an additional 2,102 shares during the period. KLP Kapitalforvaltning AS increased its position in CG Oncology by 131.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 8,100 shares of the company's stock valued at $198,000 after acquiring an additional 4,600 shares during the period. Finally, Federated Hermes Inc. increased its position in CG Oncology by 41.7% in the 1st quarter. Federated Hermes Inc. now owns 8,500 shares of the company's stock valued at $208,000 after acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds own 26.56% of the company's stock.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $28.00, for a total value of $56,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CGON. Morgan Stanley lifted their price objective on CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Royal Bank Of Canada reduced their target price on CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Piper Sandler started coverage on shares of CG Oncology in a report on Monday, August 18th. They set an "overweight" rating and a $55.00 price target for the company. Wall Street Zen lowered CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, The Goldman Sachs Group upgraded CG Oncology to a "strong-buy" rating and set a $40.00 price objective for the company in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $54.30.

CG Oncology Trading Up 0.4%

NASDAQ CGON traded up $0.10 during trading hours on Monday, reaching $26.82. The company's stock had a trading volume of 400,018 shares, compared to its average volume of 571,098. The business has a 50-day simple moving average of $26.16 and a 200 day simple moving average of $25.24. CG Oncology, Inc. has a 52 week low of $14.80 and a 52 week high of $40.47. The stock has a market cap of $2.04 billion, a PE ratio of -15.15 and a beta of 0.87.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, equities analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current 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.