Teachers Retirement System of The State of Kentucky Makes New $605,000 Investment in CG Oncology, Inc. (NASDAQ:CGON)

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 purchased a new stake in CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 24,723 shares of the company's stock, valued at approximately $605,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CGON. GF Fund Management CO. LTD. purchased a new position in CG Oncology in the 4th quarter valued at approximately $41,000. CWM LLC boosted 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 buying an additional 2,058 shares during the period. GAMMA Investing LLC boosted 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 buying an additional 2,102 shares during the period. KLP Kapitalforvaltning AS purchased a new position in CG Oncology in the 4th quarter valued at approximately $100,000. Finally, Federated Hermes Inc. purchased a new position in CG Oncology in the 4th quarter valued at approximately $172,000. Hedge funds and other institutional investors own 26.56% of the company's stock.

Insider Buying and Selling

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

CG Oncology Trading Down 0.2%

NASDAQ CGON traded down $0.04 during trading on Friday, reaching $26.10. The company's stock had a trading volume of 983,154 shares, compared to its average volume of 932,270. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $40.47. The business's fifty day moving average price is $26.25 and its 200-day moving average price is $25.92.

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 analysts' consensus estimates of ($0.36) by ($0.09). The business had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.53 million. CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 16.71%. Analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CGON shares. Royal Bank Of Canada decreased their price objective on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Scotiabank started coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 price objective for the company. Wall Street Zen raised shares of CG Oncology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Morgan Stanley lifted their price objective on shares of CG Oncology from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $55.30.

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.