CG Oncology, Inc. $CGON Shares Bought by Tema Etfs LLC

Key Points

• Tema Etfs LLC increased its investment in CG Oncology by 243.5% during the first quarter, reaching a total of $701,000 in holdings after acquiring 20,283 additional shares.
• Several institutional investors have also made significant changes to their holdings, including CWM LLC, which increased its stakes by 3,957.7%, now owning 2,110 shares valued at approximately $52,000.
• CG Oncology missed earnings estimates for the previous quarter, reporting a loss of ($0.54) per share, which was $0.05 lower than analysts' expectations.

Tema Etfs LLC increased its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 243.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,612 shares of the company's stock after buying an additional 20,283 shares during the quarter. Tema Etfs LLC's holdings in CG Oncology were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other news, Director Leonard E. Post sold 2,000 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wall Street Zen lowered CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Piper Sandler assumed coverage on CG Oncology in a research note on Monday, August 18th. They set an "overweight" rating and a $55.00 price target for the company. Morgan Stanley upped their price target on CG Oncology from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. The Goldman Sachs Group upgraded CG Oncology to a "strong-buy" rating and set a $40.00 target price for the company in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $54.30.

CG Oncology Stock Up 0.4%

NASDAQ:CGON traded up $0.10 during trading hours on Friday, reaching $26.82. 400,018 shares of the stock were exchanged, compared to its average volume of 571,098. The firm 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 capitalization of $2.05 billion, a P/E ratio of -15.15 and a beta of 0.87.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.54) 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, analysts expect that CG Oncology, Inc. will post -1.31 earnings per share 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.