TimesSquare Capital Management LLC Lowers Position in CG Oncology, Inc. (NASDAQ:CGON)

TimesSquare Capital Management LLC cut its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 517,258 shares of the company's stock after selling 29,646 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.68% of CG Oncology worth $12,668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWM LLC grew its position in CG Oncology by 3,957.7% during the 1st quarter. CWM LLC now owns 2,110 shares of the company's stock valued at $52,000 after purchasing an additional 2,058 shares during the last quarter. Alps Advisors Inc. grew its position in CG Oncology by 3.1% during the 1st 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 last quarter. China Universal Asset Management Co. Ltd. grew its position in CG Oncology by 6.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,270 shares of the company's stock valued at $374,000 after purchasing an additional 930 shares during the last quarter. Bank of New York Mellon Corp grew its position in CG Oncology by 8.8% during the 1st quarter. Bank of New York Mellon Corp now owns 147,560 shares of the company's stock valued at $3,614,000 after purchasing an additional 11,993 shares during the last quarter. Finally, Rhumbline Advisers grew its position in CG Oncology by 8.2% during the 1st quarter. Rhumbline Advisers now owns 74,689 shares of the company's stock valued at $1,829,000 after purchasing an additional 5,673 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.76, for a total value of $30,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Wall Street Zen raised shares of CG Oncology from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, April 28th. Royal Bank Of Canada cut their target price on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group raised shares of CG Oncology to a "strong-buy" rating and set a $40.00 price objective for the company in a research note on Thursday, July 10th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $55.30.

CG Oncology Stock Performance

CGON traded up $2.38 on Thursday, hitting $28.46. The company had a trading volume of 1,521,927 shares, compared to its average volume of 863,967. CG Oncology, Inc. has a 12-month low of $14.80 and a 12-month high of $40.47. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -18.85 and a beta of 0.86. The stock has a fifty day moving average price of $25.96 and a 200-day moving average price of $26.06.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued 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). The business had revenue of $0.05 million for the quarter, compared to analysts' expectations of $0.53 million. CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. Analysts forecast that CG Oncology, Inc. will post -1.31 EPS 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.