TD Asset Management Inc Has $1.67 Million Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Key Points

• TD Asset Management Inc reduced its stake in CG Oncology, selling 10,878 shares, bringing its total ownership to approximately 0.09% of the company, valued at $1,673,000.
• Research firms have recently upgraded CG Oncology's rating, with Goldman Sachs assigning a "strong-buy" rating and a $40.00 price target.
• CG Oncology reported a loss of ($0.45) EPS for the last quarter, missing analysts' expectations, with projected negative earnings for the current fiscal year.

TD Asset Management Inc reduced its position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 13.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,306 shares of the company's stock after selling 10,878 shares during the quarter. TD Asset Management Inc owned about 0.09% of CG Oncology worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS increased its stake in shares of 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 last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of CG Oncology in the 1st quarter valued at about $605,000. Massachusetts Financial Services Co. MA increased its stake in shares of CG Oncology by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 258,090 shares of the company's stock valued at $6,321,000 after acquiring an additional 933 shares during the last quarter. CWM LLC increased its stake in shares of 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 last quarter. Finally, Alps Advisors Inc. increased its stake in shares of CG Oncology by 3.1% in the 1st quarter. Alps Advisors Inc. now owns 56,399 shares of the company's stock valued at $1,381,000 after acquiring an additional 1,709 shares during the last quarter. 26.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Royal Bank Of Canada lowered their price target on CG Oncology from $68.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th. Morgan Stanley upped their price target on CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded CG Oncology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, CG Oncology has an average rating of "Buy" and an average target price of $55.30.

CG Oncology Price Performance

NASDAQ:CGON traded up $0.44 during trading hours on Friday, reaching $24.79. 311,927 shares of the stock were exchanged, compared to its average volume of 1,007,911. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $40.47. The firm has a 50 day moving average of $26.31 and a 200 day moving average of $25.72. The stock has a market cap of $1.89 billion, a PE ratio of -16.43 and a beta of 0.87.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. Equities research analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Activity at CG Oncology

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

CG Oncology Company 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.