24,723 Shares in CG Oncology, Inc. (NASDAQ:CGON) Acquired by Teachers Retirement System of The State of Kentucky

Key Points

• The Teachers Retirement System of the State of Kentucky acquired 24,723 shares of CG Oncology, Inc. (NASDAQ:CGON) valued at approximately $605,000 during the first quarter.
• Analysts have set varying price targets for CG Oncology, with Cantor Fitzgerald maintaining an "overweight" rating and a price target of $75.00, while Royal Bank of Canada reduced its target to $53.00.
• Insider trading saw Director Leonard E. Post sell 2,000 shares at an average price of $28.00, totaling $56,000, indicating significant insider activity in the stock.

Teachers Retirement System of The State of Kentucky acquired a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,723 shares of the company's stock, valued at approximately $605,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of CG Oncology by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock valued at $168,096,000 after purchasing an additional 779,730 shares during the period. Wells Fargo & Company MN raised its holdings in shares of CG Oncology by 45.3% during the fourth quarter. Wells Fargo & Company MN now owns 28,234 shares of the company's stock valued at $810,000 after purchasing an additional 8,803 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of CG Oncology by 443.5% in the 4th quarter. JPMorgan Chase & Co. now owns 168,866 shares of the company's stock worth $4,843,000 after acquiring an additional 137,795 shares during the last quarter. Swiss National Bank raised its holdings in shares of CG Oncology by 144.2% in the 4th quarter. Swiss National Bank now owns 79,600 shares of the company's stock worth $2,283,000 after acquiring an additional 47,000 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of CG Oncology by 53.5% in the 4th quarter. Deutsche Bank AG now owns 38,978 shares of the company's stock worth $1,118,000 after acquiring an additional 13,589 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company's stock.

Insider Buying and Selling

In other news, Director Leonard E. Post sold 2,000 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CGON shares. Cantor Fitzgerald restated an "overweight" rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. Scotiabank started coverage on shares of CG Oncology in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 target price on the stock. Royal Bank Of Canada lowered their target price on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. The Goldman Sachs Group upgraded shares of CG Oncology to a "strong-buy" rating and set a $40.00 target price on the stock in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of CG Oncology from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $55.30.

CG Oncology Stock Performance

NASDAQ:CGON traded down $0.68 on Tuesday, hitting $25.18. The stock had a trading volume of 65,838 shares, compared to its average volume of 1,013,419. The stock has a market cap of $1.92 billion, a P/E ratio of -16.72 and a beta of 0.86. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $40.47. The firm's fifty day simple moving average is $26.27 and its two-hundred day simple moving average is $25.83.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.09). The firm had revenue of $0.05 million during the quarter, compared to analysts' expectations of $0.53 million. CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 16.71%. Equities research 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.