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 stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 68,306 shares of the company's stock after selling 10,878 shares during the quarter. TD Asset Management Inc owned 0.09% of CG Oncology worth $1,673,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS boosted its stake in CG Oncology by 131.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 8,100 shares of the company's stock valued at $198,000 after purchasing an additional 4,600 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in CG Oncology in the 1st quarter worth approximately $605,000. Massachusetts Financial Services Co. MA raised its stake in CG Oncology by 0.4% during 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 in the last quarter. CWM LLC grew its stake in shares of CG Oncology by 3,957.7% in the first quarter. CWM LLC now owns 2,110 shares of the company's stock worth $52,000 after purchasing an additional 2,058 shares in the last quarter. Finally, Alps Advisors Inc. increased its holdings in shares of CG Oncology by 3.1% during the first quarter. Alps Advisors Inc. now owns 56,399 shares of the company's stock valued at $1,381,000 after purchasing an additional 1,709 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CGON has been the topic of a number of research reports. Wall Street Zen raised CG Oncology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Cantor Fitzgerald restated an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. Scotiabank initiated coverage on CG Oncology in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Finally, Morgan Stanley boosted their target price on CG Oncology from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, CG Oncology has a consensus rating of "Buy" and an average price target of $55.30.

Insider Transactions at CG Oncology

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

CG Oncology Price Performance

Shares of NASDAQ:CGON traded down $1.65 during midday trading on Wednesday, hitting $25.29. 823,714 shares of the stock were exchanged, compared to its average volume of 1,012,088. CG Oncology, Inc. has a 52-week low of $14.80 and a 52-week high of $40.47. The business's fifty day simple moving average is $26.35 and its two-hundred day simple moving average is $25.75.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.09). CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. The firm had revenue of $0.05 million for the quarter, compared to analysts' expectations of $0.53 million. As a group, sell-side analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

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.